Deemed income: deductions and foreign tax credits treated as income received for computing an assessee's taxable income.

Certain sums are deemed as income received for computing an assessee's income: amounts deducted under the Chapter on deduction and collection at source, and income-tax paid outside India by way of deduction that yields a credit against tax payable under the Act, except tax paid under section 392(2)(a) and amounts deducted under section 393(3).

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