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TypeBare Act JurisdictionCentral Government

Finance Act 2008 Section 24

Amendment of Section 115-o

~1 min read
https://sooperkanoon.com/act/48712

Bare act section · Research

About this section

Finance Act 2008 Section 24 is part of Finance Act 2008 - Amendment of Section 115-o. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 115-O of the Income-tax Act, after sub-section (1), the following sub-section shall be inserted, namely:--

(1A) The amount referred to in sub-section (1) shall be reduced by the amount of dividend, if any, received by the domestic company during the financial year, if

(a) such dividend is received from its subsidiary;

(b) the subsidiary has paid tax under this section on such dividend; and

(c) the domestic company is not a subsidiary of any other company:

Provided that the same amount of dividend shall not be taken into account for reduction more than once.

Explanation.-For the purposes of this sub-section, a company shall be a subsidiary of another company, if such other company holds more than half in nominal value of the equity share capital of the company".

Frequently asked questions

What does Finance Act 2008 Section 24 provide?

Section Section 24 of the Finance Act 2008 (Amendment of Section 115-o) is reproduced on this page as part of the Finance Act 2008. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act 2008 Section 24?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 2008 Section 24. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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