Whether, in the case of company where part of dividend is utilised for setting-off loss under any other head, deduction under the section is to be allowed on reduced dividend remaining after such set-off

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..... nd is utilised for setting-off loss under any other head, deduction under the section is to be allowed on reduced dividend remaining after such set-off 1. A question has arisen as to whether in the case of a company where a part of the dividend income is utilised for setting-off loss under any other head, relief under section 80M, is to be allowed on the reduced dividend income remaining afte .....

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..... to be allowed on the dividend income before such set-off, subject to the overall limit imposed by section 80A(2). This is illustrated in the following example : Rs. 1. Income from dividend 20,000 2. Business loss 10,000 Total income 10,000 Deduction under section 80M at the rate of 60 per .....

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