Special provision for computing profits and gains of foreign companies engaged in the business of civil construction - (New) Section 61(2)(table Sl. No. 4) / (Old) Section 44BBB

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.... certain turnkey power projects Under Section 61 of the Income Tax Act, 2025 [ From 01.04.2026 ] Overriding Provision  The provisions of sections 26 to 54, to the extent contrary to this section, shall not apply to the manner of computation of profits and gains of the specified business in section 61(2). Eligibility - Available to foreign companies undertaking ....

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....cified business are lower than the business profits computed under section 61(2), if,-- • (a) he keeps and maintains such books of account and other documents as required under section 62; and • (b) gets his accounts audited and furnish a report of such audit as required under section 63. No deduction allowed - Any loss, allowance or deduction allowable under....

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.... in India or outside India for carrying out the above work. Income lower than presumptive rate Assessee can show provided he maintain books of account & get the audit done under section 44AB & his case will be put in scrutiny assessment under section 143(3) Provisions of Section 28 to 43A Not applicable Set-off of current year depreciation and b/f depreciation of other business agai....