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of <h1>Tax treatment of lump-sum know-how payments: one-sixth now (rest over five years), special one-third rule for institution-developed know-how</h1> Where an assessee pays a lump-sum for acquiring know-how for business use, one-sixth of that payment is deductible in the year of payment and the remainder in equal instalments over the next five years; if the know-how was developed in a specified laboratory, university or institution, one-third is deductible in the year and the balance over the next two years. On amalgamation or demerger, the resultant entity may continue to claim the remaining deductions for the residual period as would have been allowable to the transferor. 'Know-how' covers industrial information or techniques aiding manufacture, processing or mineral operations.
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