Deduction for authors' royalty income: tax relief capped and subject to repatriation and certification requirements. Section 80QQB allows resident individual authors a deduction for income from assignment of copyright, lump-sum consideration, royalties or copyright fees for books (excluding certain publications), equal to the whole such income or three lakh rupees, whichever is less. Non-lump-sum royalty income exceeding fifteen percent of the value of books sold (before expenses) is ignored. Foreign-source income is considered only if repatriated in convertible foreign exchange within six months (or extended period). Prescribed certificates from the payer and, for foreign income, from the prescribed authority must accompany the return; no double deduction is permitted.
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: tax relief capped and subject to repatriation and certification requirements.
Section 80QQB allows resident individual authors a deduction for income from assignment of copyright, lump-sum consideration, royalties or copyright fees for books (excluding certain publications), equal to the whole such income or three lakh rupees, whichever is less. Non-lump-sum royalty income exceeding fifteen percent of the value of books sold (before expenses) is ignored. Foreign-source income is considered only if repatriated in convertible foreign exchange within six months (or extended period). Prescribed certificates from the payer and, for foreign income, from the prescribed authority must accompany the return; no double deduction is permitted.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
