Deduction for royalty income: resident authors can claim limited deductions where income is professional and certified, subject to remittance rules. Deduction for royalty or copyright income is available to resident individual authors for books of literary, artistic or scientific nature, excluding periodicals, newspapers, school textbooks and similar publications. The income must be earned in the exercise of the profession and verified by a payment certificate in Form 10CCD. Deduction is limited to the lower of the royalty income and the prescribed cap. If rights are not completely transferred, deduction is income before expenses in excess of 15% of the value of books sold. Foreign royalties qualify only to the extent remitted in convertible foreign exchange within six months or extended RBI period.
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 royalty income: resident authors can claim limited deductions where income is professional and certified, subject to remittance rules.
Deduction for royalty or copyright income is available to resident individual authors for books of literary, artistic or scientific nature, excluding periodicals, newspapers, school textbooks and similar publications. The income must be earned in the exercise of the profession and verified by a payment certificate in Form 10CCD. Deduction is limited to the lower of the royalty income and the prescribed cap. If rights are not completely transferred, deduction is income before expenses in excess of 15% of the value of books sold. Foreign royalties qualify only to the extent remitted in convertible foreign exchange within six months or extended RBI period.
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