Royalty and fees for technical services: tax exempt where the payer is required to discharge tax under a government approved agreement.

Section 10 is amended to insert clause (6A) exempting tax where, under a Central Government approved agreement, Government or an Indian concern pays tax on royalties or fees for technical services received by a foreign company, with cross references to existing definitions; clause (10) raises the gratuity exemption ceiling and empowers the Central Government to notify higher limits with transitional protection for pre cutoff events; clause (15) clarifies interest treatment, expands deductible interest and eligible purchase definitions and adds housing finance company relief; clauses (21) and (26A) introduce specified transitional investment and territorial clarifications.

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