Receipt of foreign income in India required; commissioner may allow delayed receipt for recorded reasons. Amendment restricts section 80-O to income received in India (removing references to income received outside India or dealings in foreign exchange), adds ... Summary
Receipt of foreign income in India required; commissioner may allow delayed receipt for recorded reasons.
Amendment restricts section 80-O to income received in India (removing references to income received outside India or dealings in foreign exchange), adds a proviso requiring receipt in India within six months of the end of the previous year unless the Commissioner, for reasons recorded in writing, allows a further period, and redefines "foreign enterprise" in the Explanation as a person who is a non-resident.
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