(1)Where a foreign company is said to be a resident in India in any tax year and such company has not been a resident in India in earlier tax years, then, irrespective of anything in this Act and subject to the conditions as may be notified by the Central Government in this behalf, the provisions of this Act relating to—(a)the computation of total income;(b)treatment of unabsorbed depreciation;(c)set off or carry forward and set off of losses;(d)collection and recovery; and(e)special provisions relating to avoidance of tax, shall apply with such exceptions, modifications and adaptations as specified in that notification for such tax year.
