Income-tax Act, 1961
Section - 80HHD - Deduction in respect of earnings in convertible foreign exÂchange
Deduction in respect of earnings in convertible foreign exchange.80HHD. (1) Where an assessee, being an Indian company or a person (other than a company) resident in India, is engaged in the business of a hotel or of a tour operator, approved by the prescribed authority in this behalf or of a travel agent, there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee-
| (a) | - | for an assessment year beginning on the 1st day of April, 2001, a deduction of a sum equal to the aggregate of- |
| (i) | forty per cent of the profits derived by him from services provided to foreign tourists; and | |
| (ii) | so much of the amount not exceeding forty per cent of the profits referred to in sub-clause (i) as is debited to the profit and loss account of the previous year in .... To read the full section download the app from Google Play store
24 October 2026
CA Industrial TraineeFytomax Nutrition Private Limited Aurangabad CA Inter View Details
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