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of <h1>Patentees can deduct royalty income from patents registered post-April 1, 2003, under Patents Act, 1970. Max deduction: 300,000.</h1> A resident individual who is a patentee is eligible for a deduction on royalty income from patents registered on or after April 1, 2003, under the Patents Act, 1970. This deduction applies if the royalty income is part of the individual's gross total income from ordinary sources. The deductible amount is limited to the lesser of the royalty amount allowable under a compulsory license settled by the Controller under the Patents Act or three hundred thousand rupees.
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