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Royalty income of rs. 50k in itr

ITR Filing 449 views 5 replies

Josh

Manager

124 Points Posted on 27 August 2019

I am a salaried individual.

In the current year, I have received royalty of Rs. 50000 from a book publisher who has deducted TDS on the same.

Which ITR form should I use for filing my returns.

Regards,

Replies (5)

Kapadia Pravin

17264 Points Posted on 27 August 2019

File ITR 3

Josh

Manager

124 Points Posted on 28 August 2019

What about itr 4 as I do not maintain books of accounts and my primary income is through salary

Josh

Manager

124 Points Posted on 28 August 2019

Can I claim 80 qqb benefit in itr 4

Kapadia Pravin

17264 Points Posted on 28 August 2019

Under 80QQB maximum deduction is 3 lakhs. Su you get full deduction on Royalty income under ITR 3.
I think Royalty income do not qualify under 44AD or 44ADA that is ITR4 is not applicable.

Suresh Thiyagarajan

Student

3986 Points Posted on 28 August 2019

1. Royalty income will be shown under IOS and deductions u/s 80QQB to the extent of Rs. 3 lakhs can be set it off against such income.
2. File ITR-3 it would be easy and simple.
Please correct me if the above solution has an alternative view.