(2) Nothing contained in sub- section (1) shall apply in relation to any income by way of royalty received by a foreign company from an Indian concern in pursuance of an agreement made by it with the Indian concern after the 31st day of March, 1976 , if such agreement is deemed, for the purposes of the 8[ first] proviso to clause (vi) of sub- section (1) of section 9, to have been made before the 1st day of April, 1976 ; and the provisions of the annual Finance Act for calculating, charging, deducting or computing income- tax shall apply in relation to such income as if such income had been received in pursuance of an agreement made before the 1st day of April, 1976 .]