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) sums deducted under this Chapter; and 92. Substituted by the Finance Act, 2026, w.e.f. 1-10-2026. Prior to its substitution, clause ( c) read as under : “( c) the provisions of clause (a) shall not apply— ( i) to a person who is required to deduct tax under provisions of section 393(1) [Table: Sl. Nos. 2(i), 3(i) and 6(ii)]; ( ii) to a person referred to in section 393(4) [Table: Sl. No. 12.C(a)]; and ( iii) a person notified in this regard by the Central Government.” ( 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). Compliance and reporting.