Deduction in respect of royalty on patents - Section 80RRB

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....es any royalty income from working of or use of the patent. Consideration also includes an advance payment of such royalty, which is not refundable. * However, it does not include any consideration for the sale of product manufactured with the use of patented process or patented article for commercial use. * Amount of deduction: The deduction shall be the lower of ₹ 3,00,000 or total inc....

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....ount of royalty under the terms and conditions of a licence settled by the Controller under that Act. Note: * Only those individuals that hold an original patent are eligible to apply for deduction under Section 80RRB. If any individual does not hold the original patent, he/she cannot apply for this deduction. * The patent against which the royalty has been received must be registered under t....