Monetary limit for deduction in respect of royalty on patents received by a resident individual is

CS Executive · Tax Laws and Practice · PYQS · December 2015
Monetary limit for deduction in respect of royalty on patents received by a resident individual is
(A) ₹1,00,000
(B) ₹3,00,000
(C) ₹5,00,000
(D) Nil.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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