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Deduction u/s 80RRB - Deduction in respect of royalty on patents

Income Tax - Exemptions and Deductions - 20 - SECTION 80RRB This section provides deduction to a resident patentee (including joint patentee) for the receipt of royalty in respect of a patent registered on or after 01.04.2003 under the Patent Act, 1970. It includes 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 .....

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