TMI BlogDeduction in respect of professional income from foreign sources in certain casesX X X X Extracts X X X X X X X X Extracts X X X X ..... usician, actor or sportsman (including an athlete) ], includes any income derived by him in the exercise of his profession from the Government of a foreign State or any person not resident in India, 3 [ there shall be allowed, in computing the total income of the individual, 4 [ a deduction from such income of an amount equal to- ( i ) sixty per cent of such income for an assessment year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection shall be allowed unless the assessee furnishes a certificate, in the prescribed form, along with the return of income, certifying that the deduction has been correctly claimed in accordance with the provisions of this section .]] 6 [ Explanation.- For the purposes of this section, the expression competent authority means the Reserve Bank of India or such other authority as is aut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtion beginning with the words a deduction from such income of an amount and ending with the words competent authority may allow in this behalf by the Finance Act, 2000, w.e.f. 1-4-2001. Prior to its substitution, the quoted portion, as amended by the Finance Act, 1990, w.e.f. 1-4-1991, Finance (No. 2) Act, 1996, w.e.f. 1-4-1997 and Finance Act, 1999, w.e.f. 1-6-1999, read as under : a ded ..... X X X X Extracts X X X X X X X X Extracts X X X X
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