Section 80Q - Deduction in respect of profits and gains from the business of publication of books - Income-tax Act, 1961

1 [Deduction in respect of profits and gains from the business of publication of books. 80Q. (1) Where in the case of an assessee the gross total income of the previous year relevant to the assessment year commencing on the 1st day of April, 1992, or to any one of the four assessment years next following that assessment year, includes any profits and gains derived from a business carried on in India of printing and publication of books or publication of books, there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction from such profits and gains of an amount equal to twenty per cent thereof. (2) In a case where the assessee is entitled also to the deduction under section 80HH or section 80HHA or section 80HHC or section 80-I or section 80-IA or section 80J [2] or section 80P, in relation to any part of the profits and gains referred to in sub-section (1), the deduction under sub-section (1) shall be allowed with reference to such profits and gains included in the gross total income as reduced by the deductions under section 80HH, section 80HHA, section 80HHC, section 80-I, section 80-IA, section 80J [3] and section 80P. (3) For the purposes of this section, books shall not include newspapers, journals, magazines, diaries, brochures, tracts, pamphlets and other publications of a similar nature by whatever name called. ] **************** NOTES:- 1. Inserted vide Section 35 of the Finance (No. 2) Act, 1991 w.e.f. 01-04-1992 Earlier , Inserted vide Third Schedule of the Finance (No. 2) Act, 1967 w.e.f. 01-04-1968 And was Omitted vide Section 21 of the Finance Act, 1972 w.e.f. 01-04-1973 before it was read as, 80Q. Deduction in respect of dividends from co-operative society. - Where the gross total income of an assessee who is a member of a co-operative society includes any income by way of dividends received by him from the society, the whole of such income shall be allowed as a deduction in computing his total income. 2. Section 80J has been Omitted vide section 29 of the Finance (No. 2) Act, 1996 w.e.f. 01-04-1989 3. Section 80J has been Omitted vide section 29 of the Finance (No. 2) Act, 1996 w.e.f. 01-04-1989