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<h1>Tax Deductions for Indian Companies Receiving Royalties and Fees from Foreign Entities Under Section 85C Eliminated</h1> The statutory provision relates to Section 85C of the Income Tax Act, 1961, concerning income tax deductions for Indian companies receiving royalties, commissions, or fees from foreign companies. The section originally allowed tax deductions for specific technical services and intellectual property arrangements approved by the Central Government, but was later omitted through subsequent finance acts.