Section 115BBF of ITA, 1961 : Section 115Bbf: Tax On Income From Patent
ITA, 1961
JavaScript did not load properly
Some content might be missing or broken. Please try disabling content blockers or use a different browser like Chrome, Safari or Firefox.
Explanation using Example
Let's consider Dr. Rao, a resident of India, who has developed a new pharmaceutical compound and has registered the patent in India. In the financial year, he earns INR 5,00,000 as royalty from a company for the use of his patent. Dr. Rao decides to take advantage of Section 115BBF of the Income-tax Act, 1961.
Under this section, Dr. Rao's royalty income will be taxed at a concessional rate of 10%. So, the tax on his royalty income would be INR 50,000 (10% of INR 5,00,000). Additi...
Login to access all pages and read more content.
To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.
In fact, any online course, certificate program, diploma in International Law, Technology Law, or whatever-new-hype-they-invent is usually just marketing sugarcoat. Don't let them sell you a PDF or Recorded Content and call it empowerment.
A course designed to truly empower you should be accessible — and preferably, free. That's why KanoonGPT will launch a Free AI 101 for Law Professionals course.
Also, quick reality check: Indians earn in INR ₹₹₹ — why on earth are we paying in Dollars $$$ for AI tools ? 🤨 Something doesn't add up.
Download Digital Bare Acts on mobile or tablet with "Kanoon Library" app
