tax on foreign income

Income will be taxable under the head of income from business & profession or under other income as the case may be. Expedituer in relation to business will be allowed as deduction.

In my opnion, There is no deduction allowed U/S 80.

Thanks, 

Yes Bansal is right. The income will be taxable under the head business & profession. In my opinion Deduction under section 80 are allowable only if services are rendered by a person outside india i. e. during his stay outside india. Also i think there is No need to inform any authority as this is a very common thing done by many people.

Thank you for your replies. could u provide me the slab for calculating the income tax payable?

Enclosed

Thanks

Dear Aditya Sir,
I too wanted to Know if a person say IT Consultant is exporting Service outside India , will he can claim an 100% deduction, 
if yes then in which section.
If not then previously there was such sections!

Dear Aditya Sir,
I too wanted to Know if a person say IT Consultant is exporting Service outside India , will he can claim an 100% deduction,
if yes then in which section.
If not then previously there was such sections!