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Rule 11C of Income Tax Rules 1962: Prescribed fields (deduction section 80RRA)

Rule 11C - Prescribed fields for the purposes of deduction in respect of remuneration received from foreign employers or Indian concerns under section 80RRA.
(Chapter: II Part E. - Deductions to be made in computing total income)

For the purposes of clause (vi) of Explanation 2 to section 80RRA, the prescribed fields shall be,—
(a) the profession of actuaries ;
(b) banking ;
(c) insurance; and
(d) journalism.

Extra Notes for Readers:

- Rule 11C was introduced by the Income Tax (6th Amendment) Rules, 1976.
- As per section 80RRA(1), no deduction shall be allowed in respect of the assessment year beginning on the 1st day of April, 2005 and any subsequent assessment year. Hence, rule 11C has become inoperative with effect from 1-4-2005.

Reference/Source: Check at Income Tax site for latest version of the Rules - link

This page was last updated on 17th October 2016.

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