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of <h1>Section 80HHE: Tax Deductions for Indian Software Export Profits, Certified and Paid in Foreign Currency Within Six Months.</h1> Section 80HHE of the Income-tax Act, introduced by the Finance (No. 2) Act, 1991, provides a deduction for profits derived from the export of computer software or related technical services by Indian companies or residents. The deduction is contingent on the receipt of payment in convertible foreign exchange within six months of the fiscal year-end, extendable by the Commissioner. Profits eligible for deduction are proportionate to export turnover relative to total turnover. The deduction requires certification by an accountant and cannot be claimed under other Act provisions. Definitions for terms like 'convertible foreign exchange' and 'export turnover' are specified.
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