Income-tax Act, 1961

Section - 80HHB - Deduction in respect of profits and gains from projects outÂside India

Deduction in respect of profits and gains from projects outside India.

80HHB. (1) Where the gross total income of an assessee being an Indian company or a person (other than a company) who is resident in India includes any profits and gains derived from the business of-

(a)	-	the execution of a foreign project undertaken by the assessee in pursuance of a contract entered into by him, or
(b)	-	the execution of any work undertaken by him and forming part of a foreign project undertaken by any other person in pursuance of a contract entered into by such other person,

with the Government of a foreign State or any statutory or other public authority or agency in a foreign State, or a foreign enterprise, there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction from such profits and gains of an amount equal to-

(i)

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