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of <h1>Finance Bill 2016: 10% Tax on Patent Royalty Income in India from April 2017, No Deductions Allowed</h1> Clause 52 of the Finance Bill, 2016, introduces Section 115BBF to the Income-tax Act, effective from April 1, 2017. This section imposes a 10% tax rate on royalty income from patents developed and registered in India by eligible assessees. The tax is calculated on the royalty income, and no deductions for expenses or allowances are permitted. Definitions for terms such as 'eligible assessee,' 'patent,' and 'royalty' are provided, aligning with the Patents Act, 1970. This amendment applies from the assessment year 2017-2018 onwards.
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