New Tax Provision: Section 115BBF Imposes 10% Tax Rate on Royalties from Patents Developed and Registered in India.

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....Insertion of new section 115BBF - Tax on income from patent - where the total income of an eligible assessee includes any income by way of royalty in respect of a patent developed and registered in India, the income-tax payable shall be the aggregate of the amount of income-tax calculated on the income by way of royalty in respect of such patent, at the rate of ten per cent....