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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clarification on Section 80RR: Deduction for Authors and Artists on Foreign Income Based on Net, Not Gross, Receipts.</h1> Instruction No. 950, issued by the Central Board of Direct Taxes on April 24, 1976, clarifies the application of Section 80RR of the Income Tax Act, 1961. This section allows a deduction for individuals such as authors, playwrights, musicians, or actors on income derived from foreign sources and brought into India. The instruction specifies that the deduction should be calculated based on the net income, not the gross receipts, as defined in Section 80B(5) of the Act. This clarification aligns with prior guidance provided in Instruction No. 797 regarding Section 80-O.
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