1. License fee received by the composer of music if it is in the nature of royalty, that is for the song which he composed and every time the song is used he receives periodical receipts. This periodical receipt which is by nature a royalty will be taxed under the head "Income from Other sources"
2. However for making the initial composition of music which will be covered under profession, the same will be taxed under PGBP.
Please correct me if my interpretation has an alternative view.
CAclubindia
