Income deemed to be received expands to include certain deducted foreign-paid tax for computing taxable income, with narrow exceptions. Section 198 deems sums deducted under the withholding regime, and, from the effective amendment date, income-tax paid outside India by way of deduction that is creditable under the Act, to be income received for computing an assessee's taxable income; specified exceptions exclude employer-paid tax on non-monetary perquisites and tax deducted under the identified withholding provision from this deeming.