80 QQB
This query is : Resolved
28 April 2010
pls exlain me deduction where royalty is not received in lumpsum but received on % of books sold
Which value for 15% is taken
thnx
Which value for 15% is taken
thnx
28 April 2010
where the income by way of such royalty or the copyright fee, is not a lump sum consideration in lieu of all rights of the assessee in the book, so much of the income, before allowing expenses attributable to such income, as is in excess of fifteen per cent of the value of such books sold during the previous year shall be ignored.
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