Deduction under section 80-O: approval, eligibility and procedural requirements govern foreign earned royalties and technical service income. Deduction under section 80-O allows a fifty percent deduction on net income in convertible foreign exchange from royalties, commissions, fees or similar payments earned by an Indian company from a foreign Government or foreign enterprise, conditional on prior approval of the agreement by the delegated authorities and filing in the prescribed Form No.10F before the relevant filing cut-off; eligibility requires qualifying types of income rendered or used outside India, written agreements evidencing timing of services, exclusion or apportionment of non-qualifying elements in composite contracts, and examination of overlap with foreign-project deduction provisions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction under section 80-O: approval, eligibility and procedural requirements govern foreign earned royalties and technical service income.
Deduction under section 80-O allows a fifty percent deduction on net income in convertible foreign exchange from royalties, commissions, fees or similar payments earned by an Indian company from a foreign Government or foreign enterprise, conditional on prior approval of the agreement by the delegated authorities and filing in the prescribed Form No.10F before the relevant filing cut-off; eligibility requires qualifying types of income rendered or used outside India, written agreements evidencing timing of services, exclusion or apportionment of non-qualifying elements in composite contracts, and examination of overlap with foreign-project deduction provisions.
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