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of <h1>Tax deduction for foreign royalty remittances brought into India: phased percentage allowances for AY2001-02 to AY2004-05</h1> Where an Indian resident or Indian company includes income from a foreign state or non-resident enterprise for use outside India of a patent, invention, design or registered trade mark, and that income is received in convertible foreign exchange and brought into India within six months (or extended period) in accordance with foreign-exchange law, a deduction is allowable of 40% (AY 2001-02), 30% (AY 2002-03), 20% (AY 2003-04) or 10% (AY 2004-05) of such income; no deduction is allowed for AYs beginning on or after 1 April 2005. A prescribed certificate must accompany the return; RBI definitions apply.
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