Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Insertion of new section 115BBF- Tax on income from patent

Clause 52 - DIRECT TAXES - Bill - Clause 52 - Insertion of new section 115BBF. 52. After section 115BBE of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2017, namely:- Tax on income from patent. 115BBF. (1) Where the total income of an eligible assessee includes any income by way of royalty in respect of a patent developed and registered in India, the income-tax payable shall be the aggregate of- (a) the amount of income-tax calculated on the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

on.-For the purposes of this section,- (a) developed means the expenditure incurred by the assessee for any invention in respect of which patent is granted under the Patents Act, 1970 (39 of 1970) (herein referred to as the Patents Act); (b) eligible assessee means a person resident in India and who is a patentee; (c) invention shall have the meaning assigned to it in clause (j) of sub-section (1) of section 2 of the Patents Act; (d) lump sum includes an advance payment on account of such royalt .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version