https://www.taxtmi.com/acts?id=4329 Deduction applies to income received by an Indian resident from a foreign State or foreign enterprise for use outside India of patents, inventions, designs or registered trade marks, where such income is in convertible foreign exchange and is brought into India. Phased percentage deductions are specified for successive assessment years (reducing from forty to ten percent) with no deduction thereafter. The deduction requires receipt in India within six months (or extended by competent authority) and a prescribed certificate filed with the return; definitions identify convertible foreign exchange, foreign enterprise as non resident, and competent authority as the Reserve Bank of India. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 13:02:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4329 Deduction applies to income received by an Indian resident from a foreign State or foreign enterprise for use outside India of patents, inventions, designs or registered trade marks, where such income is in convertible foreign exchange and is brought into India. Phased percentage deductions are specified for successive assessment years (reducing from forty to ten percent) with no deduction thereafter. The deduction requires receipt in India within six months (or extended by competent authority) and a prescribed certificate filed with the return; definitions identify convertible foreign exchange, foreign enterprise as non resident, and competent authority as the Reserve Bank of India. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4329