Section 80-O of ITA, 1961 – Section 80-O: Deduction In Respect Of

The Income-tax Act, 1961

Where the gross total income of an assessee, being an Indian company or a person (other than a company) who is resident in India, includes any income received by the assessee from the Government of a foreign State or foreign enterprise in consideration for the use outside India of any patent, invention, design or registered trade mark and such income is received in convertible foreign exchange in

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Explanation using examples

Imagine an Indian company, Innovatech Pvt. Ltd., that has developed a new software algorithm, which they have patented. A foreign company, TechGlobal Inc., based in Ger

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Section 80-O of ITA, 1961 : Section 80-O: Deduction In Respect Of Royalties, Etc, From Certain Foreign Enterprises

Bare Act

Simplified Act

Explanation using examples

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