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of <h1>Income of Russian State Foreign Economic Corp Exempted Under IT Act for India Security Projects</h1> The Central Government, under clause (6C) of section 10 of the Income-tax Act, 1961, exempts the income of a State Foreign Economic Corporation from Russia, involved in exporting and importing armament and equipment. This exemption applies to fees for technical services provided under an agreement with the President of India, dated September 11, 1992, for projects related to India's security. The income from these services will not be included in the total income calculation of the corporation under the Income-tax Act, 1961.
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