eCourtsIndia
IndiaCode Laws
Section15
The Finance Act, 1970

Amendment of section 80M

In force Act 19 of 1970 As on 15 Oct 2026

Act 19 of 1970 Ministry Finance Enacted 14 May 1970

Section 15 of the Finance Act, 1970 deals with amendment of section 80M. Amendment of section 80M 15. In section 80M of the Income-tax Act, for sub-section (2), the following sub-section shall be substituted with effect from the 1st day of April, 1971, namely: — "(2) Where a company to which this section applies is entitled also to the deduction in respect of income by w The Act was enacted on 14 May 1970.

Amendment of section 80M

15. In section 80M of the Income-tax Act, for sub-section (2), the following sub-section shall be substituted with effect from the 1st day of April, 1971, namely: —

"(2) Where a company to which this section applies is entitled also to the deduction in respect of income by way of dividends under section 80K or section 80L, the deduction under sub-section (1) shall be allowed in respect of income by way of dividends referred to therein as reduced by the aggregate of the deductions, if any, in respect of income by way of dividends under section 80K and section 80L.

Explanation.-For the purposes of this section, the deduction in respect of income by way of dividends under section 80L shall be taken to be so much of the amount of the deduction under that section as may be in excess of the aggregate of the items of income referred to in clauses (i), (ii), (iii), (v), (vi) and (vii) of sub-section (1) of that section.".

[Finance Act, 1970]

© Copyright. Taxmann Publications Pvt. Ltd.

Section 15, The Finance Act, 1970 (Act 19 of 1970).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. Income-tax Act s. 80M Deduction in respect of certain inter-corporate dividends

Questions about Section 15

What does Section 15 of the Finance Act deal with?

Section 15 of the Finance Act is headed "Amendment of section 80M". Amendment of section 80M 15. In section 80M of the Income-tax Act, for sub-section (2), the following sub-section shall be substituted with effect from the 1st day of April, 1971, namely: — "(2) Where a company to which this section applies is entitled also to the deduction in respect of income by w

How do I find court cases under Section 15 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1970 15, section 15 Finance Act 1970, section 15 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 15 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 80M (Deduction in respect of certain inter-corporate dividends), so none of them can safely be read on its own.

When was Section 15 of the Finance Act enacted?

Section 15 of the Finance Act, cited as Finance Act 1970 15, was enacted on 14 May 1970 as Act 19 of 1970. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.