Income from royalties

Arka Bose (None) (313 Points)

01 January 2014  

Income from Royalties will be taxed under Income from Other Sources. We can claim general expenses incurred exclusively for the same u/s 57 of the Income Tax Act.

Suppose, I receive royalty of 20% of value(sale price) of books, since we can claim a deduction u/s 80 QQB of 15% of the sale price of the books before claiming such expense. Can I claim the expense u/s 57 and avail decuction u/s 80 QQB as well? Isn't there any double decuction of the expenses I incurred?