Royalty deduction
This query is : Resolved
Alok Kumar
(Querist)
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
(Expert)
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.
.
Also see-whether 450000/- is a limp-sum consideration?
.
If it is not a lump-sum- check whether it does not exceed 15% of the value of the books sold.
.
.
Also see-whether 450000/- is a limp-sum consideration?
.
If it is not a lump-sum- check whether it does not exceed 15% of the value of the books sold.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Gst registered proprietorship firm
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Non filing of I T Returns
- TAX AUDIT ON PROFESSIONAL INCOME
- Capitalgain tax purposes for valuation report compulsory
- SALARY CAN BE CAPITALIZE
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
