Section 24AA(2) in The Companies (Profits) Surtax Act, 1964
(2)The foreign companies referred to in sub-section (1) are the following, namely :-(a)foreign companies with whom the Central Government has entered into agreement for the association or participation of that Government or any person authorised by that Government in any business consisting of the prospecting for or extraction or production of mineral oils; and(b)foreign companies providing any services or facilities or supplying any ship, aircraft, machinery or plant (whether by way of sale or hire) in connection with any business consisting of the prospecting for or extraction or production of mineral oils carried on by that Government or any person specified by that Government in this behalf by notification in the official Gazette.
