Patent royalty taxation option requires filing a form disclosing patent particulars, royalty nature, expenditures and a verified declaration. Form for electing taxation of income as royalty from an eligible patent requires assessee identification, assessment year and return details, confirmation about non application of the option in the next five years, and particulars of the first year the option was exercised. It further requires patent particulars, itemised royalty income and its character, total and India/foreign expenditure on the invention, and a confirmation whether India expenditure is seventy five percent or more of total, together with a verified declaration by an authorised signatory.