Clause 396 - Tax deducted is income received. - Income Tax Bill, 2025

Tax deducted is income received. 396. The following sums shall be deemed as income received for the purposes of computing the income of an assessee (a) amount deducted under this Chapter; and (b) income-tax paid outside India by way of deduction in respect of which an assessee is allowed a credit against the tax payable under this Act, except tax paid under section 392(2)(a) and tax deducted as per section 393(3) (Table: Sl. No. 5).