Finance Act, 1974

Application of section 81 of Income Tax Act, 1967, to certain income arising outside State.

46.—Notwithstanding the foregoing provisions of this Chapter, income arising outside the State which if it had arisen in the State would be chargeable under Case V of Schedule D shall be deemed to be income to which the provisions of section 81 of the Income Tax Act, 1967 , so far as they relate to deductions to be made by reference to subsection (5) (e) of that section, apply.