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80qqb deduction

12 December 2019

royalty income(lumpsum) in 80qqb is after providing for expenses or without providing for expenses.

Net royalty or 300000 whichever is lower

gros royalty or 300000 whichever is lower

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2 Replies

sanjith kotni (Articled assistant) (663 Points)
Replied 12 December 2019

It is income based deduction and hence only after all expenses related to it.

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Kapadia Pravin (17249 Points)
Replied 15 December 2019

Section 80QQB of Income Tax Act.

Authors who write books and present the same to publishers can avail deductions under Section 80QQB of the Income Tax Act 1961.

When lumpsum is received -
The maximum amount available for deduction under this section is Rs 3,00,000 or original amount of royalty amount received (whichever is less).
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If an Individual has not received a lump sum amount , 15% of the value of the books sold during the year (before allowing any expenses) should be ignored.
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Individual must obtain FORM 10CCD from the person responsible for making the payment.

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