Deduction for authors' royalty income allows a capped allowance subject to repatriation and certification conditions. Deduction for royalty and copyright income of resident individual authors permits an allowance equal to the income or a specified monetary cap, whichever is less, for assignments, grants or royalties relating to books other than text books; non lump sum receipts are adjusted by ignoring the portion exceeding fifteen percent of the value of books sold before expenses; foreign income is included only if repatriated in convertible foreign exchange within six months (or extended by competent authority); prescribed certificates from the payer and, for foreign income, from a prescribed authority are required; the deduction is exclusive of other Act provisions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction for authors' royalty income allows a capped allowance subject to repatriation and certification conditions.
Deduction for royalty and copyright income of resident individual authors permits an allowance equal to the income or a specified monetary cap, whichever is less, for assignments, grants or royalties relating to books other than text books; non lump sum receipts are adjusted by ignoring the portion exceeding fifteen percent of the value of books sold before expenses; foreign income is included only if repatriated in convertible foreign exchange within six months (or extended by competent authority); prescribed certificates from the payer and, for foreign income, from a prescribed authority are required; the deduction is exclusive of other Act provisions.
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