Can royalty be business income?
Please provide examples.
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Royalty as business income
Replies (8)
No it is not a business income not shown as PGBP. it is shown under head Other sources
for royalties maximum deduction u/s 80RRB and 80QQB is Rs.3 lacs
for royalties maximum deduction u/s 80RRB and 80QQB is Rs.3 lacs
Agreed with Varma
Agreed with mr verma
Thank you for the replies.
But an author's royalty income will come in PGBP as professional income,right?
But an author's royalty income will come in PGBP as professional income,right?
Yes
Can it be professional income for some other type of professional??
it comes under head other source for other professionals
I actually wanted to ask
Can royalty received by some other type of professional for his work in his profession be considered as professional income??
Can royalty received by some other type of professional for his work in his profession be considered as professional income??
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