Chargeability of royalty and fee for technical services in hands of nonresidents.

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....all be charged to income-tax under the head "Profits and gains of business or profession" under this Act, if the following conditions are satisfied:-- (a) income is received from the Government or an Indian concern; (b) income is in pursuance to an agreement made by the specified assessee with the Government or the Indian concern; (c) the specified assessee carries on business in India throu....

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....sions of section 61 in so far as it relates to business referred to in section 61(2) (Table: Sl. No. 5), shall not apply in respect of the income referred to in this section. (4) The specified assessee shall keep and maintain books of account and other documents as per the provisions of section 62, get his accounts audited on or before the specified date referred to in section 63 by an accountant....