(2)[ The deduction specified in sub-section (1) shall be allowed only if the consideration in respect of the computer software referred to in that sub-section is received in, or brought into, India by the assessee in convertible foreign exchange, within a period of six months from the end of the previous year or,] [Inserted by Act 49 of 1991, Section 30 (w.e.f. 1.4.1991).] [within such further period as the competent authority may allow in this behalf] [ Substituted by Act 27 of 1999, Section 48, for certain words (w.e.f. 1.6.1999).].[Explanation 1] [ Explanation renumbered as Explanation 1 by Act 27 of 1999, Section 48 (w.e.f. 1.6.1999).][.-The said consideration shall be deemed to have been received in India where it is credited to a separate account maintained for the purpose by the assessee with any bank outside India with the approval of the Reserve Bank of India.] [Inserted by Act 49 of 1991, Section 30 (w.e.f. 1.4.1991).][Explanation 2. - For the purposes of this sub-section, the expression "competent authority" means the Reserve Bank of India or such other authority as is authorised under any law for the time being in force for regulating payments and dealings in foreign exchange.] [ Inserted by Act 27 of 1999, Section 48 (w.e.f. 1.6.1999).]
