Deduction in respect of Royalty on Patents [80RRB]

1Eligible AssesseeAny resident Individual
2ConditionHe must be registered under the Patents Act, 1970 on or after 1.4.2003, as the true and first inventor in respect of an invention, including a co-owner of the patent.
The deduction is not available to assignees or mortgagees in respect of all or any rights the patent
3Maximum Deduction100% of such income subject to a maximum Rs. 3,00,000.
3Special Provisions(a) a certificate in form 10CCE duly signed by the Controller under Patents
Act.(b) a certificate in form 10H , in case of income received from abroad, certifying that the deduction has been correctly claimed in accordance with this section.

Allowable to : Any resident individual, being a patentee, registered under the Patents Act, 1970 on or after 1.4.2003, as the true and first inventor in respect of an invention, including a co-owner of the patent. The deduction is not available to assignees or mortgagees in respect of all or any rights the patent.

Amount of Deduction: 100% of such income subject to a maximum ` 3,00,000.

Conditions: The assessee shall furnish along with his return.
(a) a certificate in form 10CCE duly signed by the Controller under Patents Act.
(b) a certificate in form 10H , in case of income received from abroad, certifying that the deduction has been correctly claimed in accordance with this section.

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