Income-tax (5th Amendment) Rules, 2017

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....ipal rules), after rule 5F, the following rule shall be inserted, namely:- "5G. Option form for taxation of income from patent under section 115BBF.- (1) For the purposes of exercising the option for taxation of income by way of royalty in respect of a patent developed and registered in India, by an eligible assesse under section 115BBF, the eligible assessee shall furnish Form No. 3CFA duly verified in the manner indicated therein, and the same shall be furnished by the eligible assessee in the following manner, namely:- (i) electronically under digital signature; or (ii) electronically through electronic verification code. (2) The form referred in sub-rule (1) shall be complete in all respects and furnished on or before the due date....

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....he five assessment years succeeding the assessment year in which the option for taxation of income by way of royalty under section 115BBF is validly exercised. Yes/No (i) If yes, following details be provided- (a) Previous year ended on which the option for taxation of income by way of royalty under section 115BBF is first validly exercised: (b) Assessment year ended on which the the option for taxation of income by way of royalty under section 115BBF is first validly exercised*: (c) date of furnishing of return of income for the assessment year mentioned in (b) above: 4. **Eligible Patent Sl. No Particulars in respect of patent Remarks A. Patent Details (a) Patent Number granted under the Patents Act, 1970. (b) Date of grant of....