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of <h1>Amendment to Section 80-O: Tax Benefits Now Focus on Foreign Earnings from IP Used Abroad</h1> Section 80-O of the Income-tax Act is amended by the Finance Act of 1997, effective April 1, 1998. The amendment replaces the phrase 'any income by way of royalty' with 'any income received by the assessee from the Government of a foreign State or foreign enterprise in consideration for the use outside India of any patent, invention, design or registered trade mark.' This change refines the scope of income eligible for tax benefits, focusing on earnings from foreign governments or enterprises for intellectual property used outside India.
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