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SECTION 44BB of the INCOME TAX ACT

Updated: Oct 14

#INCOMETAXACT

#SECTION44BB

#SECTION28

#SECTION41

#SECTION43

#PROFITS

#GAINS

#EXPLORATION

#MINERALOILS


  1. Despite anything to the contrary in sections 28 to 41 and sections 43 and 43A, in the case of an assessee 47, being a non-resident, engaged in the business of offering services or facilities in connection with, or supplying plant and machinery on hire used, or to be used, in the prospecting for, extraction from, or production of, mineral oils, a sum equal to 10% of the total of the amounts specified in sub-section (2) shall be deducted.

  2. The amounts mentioned in subsection (1) are as follows:

  • The amounts paid or payable (whether in India or outside of India) to the assessee or to any person acting on his behalf for the provision of services and facilities in connection with, or the supply of plant and machinery on hire used, or to be used, in the prospecting for, extraction from, or production of, mineral oils in India; and

  • The amount received or deemed to be received.


Explanation- For the purposes of this section,

  • "Plant" comprises ships, aeroplanes, vehicles, drilling units, scientific apparatus, and equipment, all of which are used for the sake of the aforementioned business;

  • "Mineral oil" includes petroleum and natural gas.

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