Weird tax liability situation ?

Anybody ?

I Think U Can Done It By Declare Urself As Nri     And

For  Other Deductions Reffer Sec 80QQA Of It Act 1961

Hun....how can I declare myself as NRI, if I am not ?

For NRI U Leave The INDIA For More Than 182 Days In Previous Year

In Case Of Royalities

                           Get the Deduction Of rs  3 Lakh  Subject to Received a Certificate In   form No 10CCD From the Payer

It Is Not Deposited With ITR But represent On the Department 's Demand

Form No. 10CCD 

Download From Following Link 

https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/itr62Form10CCD.pdf

Originally posted by : vikas Agarwal
	Form No. 10CCD  Download From Following Link  https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/itr62Form10CCD.pdf

But mine is not a book ??

When We Talk About Royalty The Scope Of Sec 80QQB Covered The Following

Author Oo the Book at Litreary,artistic Or Scientific Nature 

Scientific Nature Covered any Computer Programme forming Part of the software 

Reffer to the case of  DASSAULT SYSTEM K.K 2010 New dDelhi

Since,

1). I was not selling anything,

2). have not provided any service to the user or buyer

3). and was earning a regular monthly income since past 4 years

can't we get this into capital gains/asset sale ?

Mr Vikas Agarwal,

Sory but onething you not that Section 80QQB applicable to only author not to other and also in respect of Book.

Income Tax Act Language is -

"Lump sump Consideration for assignment or

grant, royalty or copyright fee for Copyright of any book being a work of literary, artistic, or scientific nature ....."

Conclution:-  thats mean this section applicable only in respect of BOOK only.

shalini mam,

I think its in my view, no any exemption, deduction and scheme for such case but still i am search so as to reduce tax liability as far as possible,  if i got then inform to you.

Thank you

How Can U Earn Someting Regularely Without Selling, Providing Services,Or Deposited as Investment

Originally posted by : vikas Agarwal
	How Can U Earn Someting Regularely Without Selling, Providing Services,Or Deposited as Investment

That's the beauty :) , just like "royalty" a book writer or a scientist receives. I devloped a solution and earn money by offering sponsorship leaving the solution free :

1). I did not provided service to end-user.

2). I did not sold anything to end-user.

But since this was a running business earnibngg money "just like one receives in royalty" I am not sure how to get tax-palnning done for this ?

Never Treated As Capital Gain