Section 80HHB- Deduction in Respect of Profits and Gains from Projects Outside India
#section80hhb #profits #gains #income #incometax #incometaxact1961 The Income Tax Act, of 1961 is the main statute of Income Tax in India. It provides for levy, administration, collection, and recovery of Income Tax. As per Section 80HHB, - If the assessee is an Indian company or a person who is a resident of India, the gross total income of an includes any profits and gains derived from the business- (a ) the foreign project execution should be undertaken by the assessee in