Section 80RRCentral Act

Section 80RR: [ Deduction in respect of professional income from foreign sources in certain cases. [Inserted by Act 14 of 1969, Section 11 (w.e.f. 1.4.1970).]

The Income-tax Act, 1961

[ Deduction in respect of professional income from foreign sources in certain cases. [Inserted by Act 14 of 1969, Section 11 (w.e.f. 1.4.1970).]

- Where the gross total income of an individual resident in India, being an author, playwright, artist, ][musician, actor] [ Substituted by Act 44 of 1980, Section 20, for " musician or actor" (w.r.e.f. 1.4.1980).][or sportsman (including an athlete) includes any income derived by him in the exercise of his profession from the Government of a foreign State or any person not resident in India, ] [Inserted by Act 14 of 1969, Section 11 (w.e.f. 1.4.1970).][there shall be allowed, in computing the total income of the individual, ] [Substituted by Act 12 of 1990, Section 28, for certain words (w.r.e.f. 1.4.1990).][[a deduction from such income of an amount equal to-

(i)

sixty per cent. of such income for an assessment year beginning on the 1st day of April, 2001;

(ii)

forty-five per cent. of such income for an assessment year beginning on the 1st day of April, 2002;

(iii)

thirty per cent. of such income for an assessment year beginning on the 1st day of April, 2003;

(iv)

fifteen per cent. of such income for an assessment year beginning on the 1st day of April, 2004, as is brought into India by, or on behalf of, the assessee in convertible foreign exchange within a period of six months from the end of the previous year or within such further period as the competent authority may allow in this behalf and no deduction shall be allowed in respect of the assessment year beginning on the 1st day of April, 2005 and any subsequent assessment year]:]

[Provided that no deduction under this section shall be allowed unless the assessee furnishes a certificate, in the prescribed form, alongwith the return of income, certifying that the deduction has been correctly claimed in accordance with the provisions of this section.] [ Inserted by Act 33 of 1996, Section 32 (w.e.f. 1.4.1997).][Explanation. - For the purposes of this section, the expression "competent authority" means the Reserve Bank of India or such other authority as is authorised under any law for the time being in force for regulating payments and dealings in foreign exchange.] [ Inserted by Act

27 of 1999

, Section 55 (w.e.f. 1.6.1999).]

Sec 80R — [ Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc. [Inserted by Act 2 of 1967, Section 23 (w.r.e.f. 1.4.1966).]

Sec 80RRA — [ Deduction in respect of remuneration received for services rendered outside India. [Substituted by Act 29 of 1977, Section 19, for Section 80-RRA (w.e.f. 1.4.1978).]

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