RENT Vs ROYALTY
This query is : Resolved
23 January 2010
Is there any difference between Royalty and Rent??
If there is any please let me know..
THANKS A LOT in advance
If there is any please let me know..
THANKS A LOT in advance
23 January 2010
Rent is an amount which we receive or accrue as rent, for the use of depreciable property used in a trade or business.
Royalty which receive from copyrights on literary, musical, or artistic works and similar property, from a patent on an invention, royalties from oil, gas, or other mineral properties.
Regards
Royalty which receive from copyrights on literary, musical, or artistic works and similar property, from a patent on an invention, royalties from oil, gas, or other mineral properties.
Regards
23 January 2010
The major difference between rent and royalty is as under :
1. Rent is a compensation paid for an asset taken into possession for a specified period "REGARDLESS" of the use of the asset.
2. Royalty is paid on the basis of "USE" of the intellectutl property and/or depreciable assets (like mines).
1. Rent is a compensation paid for an asset taken into possession for a specified period "REGARDLESS" of the use of the asset.
2. Royalty is paid on the basis of "USE" of the intellectutl property and/or depreciable assets (like mines).
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