TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Clause 84 of Direct Taxes Code: Deduct Royalty Income on Post-2003 Patents, Capped at Specified Limits</h1> Clause 84 of the Direct Taxes Code, 2010, allows a resident individual who is a patentee to deduct certain royalty income from their gross total income. This applies to income from royalties on patents registered after April 1, 2003, under the Patents Act, 1970. The deduction is limited to the lesser of the royalty amount specified by a compulsory license under the Patents Act or three lakh rupees. Definitions for terms such as 'patent,' 'patentee,' 'patent of addition,' 'patented article,' 'patented process,' 'royalty,' and 'true and first inventor' are provided, aligning with the Patents Act, 1970.
TaxTMI 
TaxTMI 
