Maximum deduction available u/s 80 QQB in respect of royalty income of authors of certain books other than text-books are: (Assuming assessee has not opted for section 115BAC)

CS Executive · Tax Laws and Practice · PYQS · June 2021
Maximum deduction available u/s 80 QQB in respect of royalty income of authors of certain books other than text-books are: (Assuming assessee has not opted for section 115BAC)
(A) Deduction of 100% of such income or ₹3,00,000, whichever is less
(B) Deduction of 100% of such income or ₹2,50,000, whichever is less
(C) Deduction of 50% of such income or ₹3,00,000, whichever is less
(D) Deduction of 50% of such income or ₹2,50,000, whichever is less

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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