Deduction for authors of prescribed Indian language textbooks reduces taxable professional income for specified early assessment years. A new deduction permits a portion of a resident individual author's income from copyright assignments, lump sum payments (including non returnable ... Summary
Deduction for authors of prescribed Indian language textbooks reduces taxable professional income for specified early assessment years.
A new deduction permits a portion of a resident individual author's income from copyright assignments, lump sum payments (including non returnable advances), and royalties for qualifying books to be deducted from total income for the assessment year commencing 1 April 1980 and the four immediately following assessment years, provided the book is a dictionary, thesaurus, encyclopedia or a university prescribed/recommended text and is written in an Eighth Schedule language or a language notified by the Central Government; joint authors are included.
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