Mr. Uday is a resident individual having patent registered on 01-07-2012 under the Patents Act, 1970. He received ₹ 5 lakhs by way of royalty from ABC Ltd during the financial year 2016-17. The quantum of royalty eligibl
CS Executive · Tax Laws and Practice · PYQS · December 2017
Mr. Uday is a resident individual having patent registered on 01-07-2012 under the Patents Act, 1970. He received ₹ 5 lakhs by way of royalty from ABC Ltd during the financial year 2016-17. The quantum of royalty eligible for deduction would be :
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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