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of <h1>Omitted provision removed targeted tax deduction for Indian company income from foreign royalties, fees, and technical services</h1> Section was omitted; previously it granted an Indian company a targeted tax deduction where its total income included royalties, commissions, fees or similar payments from a non-Indian company (or one without prescribed domestic dividend arrangements) for use of patents, designs, secret formulas, industrial/commercial/scientific information, or for technical services. The benefit applied when the arrangement was under an agreement approved by the government before 1 October of the relevant assessment year, allowing a deduction from income-tax equal to the portion of tax (computed at the average rate on that income) that exceeded twenty-five percent of that tax.
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