Section 80RR of ITA, 1961 : Section 80Rr: Deduction In Respect Of Professional Income From Foreign Sources In Certain Cases

Explanation using Example

Imagine a scenario where Ravi, an Indian resident and a professional cricket player, participates in a cricket tournament in Australia. He earns a significant amount of money from the Australian cricket board, which is a foreign entity. For the assessment year beginning on April 1, 2003, Ravi earns AUD 100,000 from his participation in the tournament. To avail the benefits under Section 80RR of the Income-tax Act, 1961, Ravi ensures that he brings the money, equivalent to AUD 100,000...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.