Deduction in respect of royalty on patents - Section 80RRB

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..... des 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 income ear .....

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..... er 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 the Patent Act, 1970. The sa .....

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