TaxTMI 
TaxTMI 
Relief from taxation in income from retirement benefit account maintained in a notified country.
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....nner and in such year as may be prescribed. Explanation.--For the purposes of this section,-- (a) "notified country" means a country as may be notified by the Central Government in the Official Gazette for the purposes of this section; (b) "specified account" means an account maintained in a notified country by the specified person in respect of his retirement benefits and the income from suc....
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....ation to which this section applies, exceeds by more than ten per cent. his export turnover during the corresponding base year, the assessee shall be entitled to a deduction from the amount of income-tax otherwise payable for that assessment year of an amount calculated at the rate specified under sub-section (3) on the amount of such excess. Explanation : For the purposes of this sub-section, -....
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.... be calculated, shall be such as may be specified by the Central Government in this behalf by notification in the Official Gazette. (4) In specifying under sub-section (3) any goods or merchandise (including the destination of their export) and the rate at which the amount of deduction under sub-section (1) is to be calculated, the Central Government shall have regard to the following factors, n....
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....of India shall be - (a) in a case where the total income for that assessment year consists only of such profits and gains, the amount of income-tax chargeable (without any deduction under this section) on the total income; (b) in a case where the total income for that assessment year includes any other income, the amount which bears to the income-tax chargeable (without any deduction under thi....