https://www.taxtmi.com/acts?id=3594 Section 44BB deems, for a non-resident providing services or hiring plant for prospecting or production of mineral oils, a sum equal to ten per cent of specified receipts to be the profits and gains chargeable to tax; specified receipts include amounts paid or payable for services and hires in India and amounts received or deemed received in India for services or hires outside India. The assessee may instead claim lower profits by maintaining prescribed books and obtaining an audit under section 44AB, and declarations under the deeming rule disallow set off of unabsorbed depreciation and brought forward losses for that year. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 27 Aug 2025 17:59:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3594 Section 44BB deems, for a non-resident providing services or hiring plant for prospecting or production of mineral oils, a sum equal to ten per cent of specified receipts to be the profits and gains chargeable to tax; specified receipts include amounts paid or payable for services and hires in India and amounts received or deemed received in India for services or hires outside India. The assessee may instead claim lower profits by maintaining prescribed books and obtaining an audit under section 44AB, and declarations under the deeming rule disallow set off of unabsorbed depreciation and brought forward losses for that year. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3594