Rule 18
Amount Of Dividend Need Not To Be Included In Computing The income
(1) For purposes of the proviso Clause of Sub-section (3) of Section 51 of the Act, in cases where any entity distributes dividends except profits to any beneficiary for the following acts, for any other reason except in the course of carrying on the business of that entity, the dividends need not to be included in computing the income:-
(a) The service provided by that entity to the beneficiary, or
(b) The property under ownership of that entity, which has been provided for the use of the beneficiary.
(2) In the cases as referred to in sub-rule (1), no expenses including depreciation deduction shall be deducted in respect of such service or property.
(a) The service provided by that entity to the beneficiary, or
(b) The property under ownership of that entity, which has been provided for the use of the beneficiary.
(2) In the cases as referred to in sub-rule (1), no expenses including depreciation deduction shall be deducted in respect of such service or property.