Royalty deduction

This query is : Resolved

Alok Kumar (Querist)
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20 July 2013 One of our client is eligible for deduction u/s 80QQB. His royalty income is Rs.4,50,000/- and expenses are 1,95,000/-. My query is how much deduction will he get.Rs. 300000 or Rs. 250000 (i.e 450000-195000). please reply

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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20 July 2013 In my view -you can claim max.deduction of Rs 255000/- as it is limited to the extent of taxable income against which the deduction is being claimed.
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Also see-whether 450000/- is a limp-sum consideration?
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If it is not a lump-sum- check whether it does not exceed 15% of the value of the books sold.
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