Deduction for export of film and television software subject to foreign exchange receipt and export-turnover proportion conditions. Section 80HHF allows a deduction to an Indian company or resident person for profits from export or transfer abroad of specified software and software ... Summary
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Deduction for export of film and television software subject to foreign exchange receipt and export-turnover proportion conditions.
Section 80HHF allows a deduction to an Indian company or resident person for profits from export or transfer abroad of specified software and software rights, limited to the portion of profits proportional to export turnover. The deduction requires receipt in convertible foreign exchange within six months (or extended by competent authority), an accountant's certificate with the return, exclusivity from other deductions for the same profits, and is barred if the business is prohibited by law; the section also prescribes definitions and exclusions for turnover and profits.
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