https://www.taxtmi.com/acts?id=21408 Resident patentees may elect taxation of patent-related royalty income under a special regime whereby such royalty is subject to a fixed low rate while the assessee's remaining income is computed after excluding that royalty; no deductions or allowances are permissible in computing the royalty income. The option must be exercised by the prescribed due date. If, after electing, the assessee fails to offer the royalty income in accordance with the regime in any of the five succeeding assessment years, the assessee loses eligibility to claim the regime's benefit for a subsequent five-assessment-year period. "Eligible assessee" and localisation and royalty definitions are specified. en-us Thu, 12 May 2016 12:51:15 +0530 Thu, 28 Aug 2025 14:31:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=21408 Resident patentees may elect taxation of patent-related royalty income under a special regime whereby such royalty is subject to a fixed low rate while the assessee's remaining income is computed after excluding that royalty; no deductions or allowances are permissible in computing the royalty income. The option must be exercised by the prescribed due date. If, after electing, the assessee fails to offer the royalty income in accordance with the regime in any of the five succeeding assessment years, the assessee loses eligibility to claim the regime's benefit for a subsequent five-assessment-year period. "Eligible assessee" and localisation and royalty definitions are specified. Act-Rules Income Tax Thu, 12 May 2016 12:51:15 +0530 https://www.taxtmi.com/acts?id=21408