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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Claim Tax Deduction on Royalty Income Under Section 80RRB for Indian Patentees with Specific Conditions</h1> Section 80RRB of the Income-tax Act, effective from April 1, 2004, provides a tax deduction for individuals who are residents of India and patentees receiving royalty income from patents registered after April 1, 2003. The deduction is the lesser of the total royalty income or three lakh rupees. If a compulsory license is granted, the deduction is limited to the royalty amount specified by the Controller under the Patents Act, 1970. For foreign income, the deduction applies only if the income is brought into India within six months. A prescribed certificate must accompany the income return to claim this deduction. Deductions under this section cannot be claimed under any other provision.
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