Income-tax Act, 1961
Section - 80-O - Deduction in respect of royalties, etc , from certain forÂeign enterprises
Deduction in respect of royalties, etc., from certain foreign enterprises.80-O. Where the gross total income of an assessee, being an Indian company or a person (other than a company) who is resident in India, includes any income received by the assessee from the Government of a foreign State or foreign enterprise in consideration for the use outside India of any patent, invention, design or registered trade mark and such income is received in convertible foreign exchange in India, or having been received in convertible foreign exchange outside India, or having been converted into convertible foreign exchange outside India, is brought into India, by or on behalf of the assessee in accordance with any law for the time being in force for regulating payments and dealings in foreign exchange, there shall be allowed, in accordance with and subject to the provisions of this section, a deduction of an amount equal to-
| (i) | - | forty per cent for an assessment year beginning on the 1st day of April, 2001; |
| (ii) | - | thirty per cent for an assessment year beginning on the 1st day of April, 2002; |
| (iii) | - | Google Play store
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