Tax rate on royalty income revised under statutory amendment, reducing the applicable rate and reallocating clause wording. The amendment substitutes clause (ii) to prescribe a fixed statutory tax rate on income by way of royalty and replaces the words in clause (iii) to reflect a lower statutory rate, thereby aligning the provisions governing computation of tax on royalty receipts under section 115A.
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Provisions expressly mentioned in the judgment/order text.
Tax rate on royalty income revised under statutory amendment, reducing the applicable rate and reallocating clause wording.
The amendment substitutes clause (ii) to prescribe a fixed statutory tax rate on income by way of royalty and replaces the words in clause (iii) to reflect a lower statutory rate, thereby aligning the provisions governing computation of tax on royalty receipts under section 115A.
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