Deduction for repatriated foreign income phased down across assessment years, conditional on timely remittance in convertible foreign exchange. Amendment provides a phased, time limited deduction for income brought into India in convertible foreign exchange, conditional on remittance within six months of the previous year or within an extended period allowed by the competent authority, and eliminates the deduction after the final specified assessment year.
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Provisions expressly mentioned in the judgment/order text.
Deduction for repatriated foreign income phased down across assessment years, conditional on timely remittance in convertible foreign exchange.
Amendment provides a phased, time limited deduction for income brought into India in convertible foreign exchange, conditional on remittance within six months of the previous year or within an extended period allowed by the competent authority, and eliminates the deduction after the final specified assessment year.
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