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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, 19 .....

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the use of patented process or patented article for commercial use. Amount of deduction: The deduction shall be the lower of Rs. 300,000 or total income earned by way of royalty. Conditions for claiming deduction: If the income is earned outside Ind .....

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