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Deduction under Section 80QQB

Deduction under Section 80QQB

Deduction under Section 80QQB


(a) Persons Covered: Individual resident in India, who is an author of a book.

(b) Eligible Amount: Income derived by author (or a joint author) from his profession, on account of-

(i) any lump sum consideration for the assignment or grant of any of his interests in the copyright of any book being a work of literary, artistic or scientific nature, or
(ii) royalty or copyright fees in respect of such book (whether receivable in lump sum or otherwise).

(c) Relevant Conditions/Points:

1. In respect of any income earned from any source outside India, only so much of the income shall be taken into account for the purpose of this section as is brought into India by, or on behalf of, the assessee in convertible foreign exchange within a period of 6 months from the end of previous year in which such income is earned or within such further period as the competent authority may allow in this behalf.

2. No deduction under this section shall be allowed in respect of any income earned from any source outside India, unless the assessee furnishes a certificate, in  the prescribed form (Form No. 10H) from the prescribed authority [i.e. RBI or any other authority authorized under the law], along with the return of income in the prescribed manner.

3. No deduction under this section shall be allowed unless the assessee furnishes a certificate in the prescribed form (Form No. 10CCD) and in the prescribed manner, duly verified by any person responsible for making such payment to the assessee, along with the return of income, setting forth such particulars as may be prescribed.

4. Where a deduction for any previous year has been claimed and allowed in respect of any income referred to in this section, no deduction in respect of such income shall be allowed under any other provision of the Act in any assessment year.

(d) Extent of Deduction:

100% of such income or Rs 3,00,000, whichever is less.

However, where the income by way of such royalty or the copyright fee is not a lump sum consideration in lieu of all rights of the assessee in the book, then so much of the income, before allowing expenses attributable to such income as is in excess of 15% of the value of such books sold during the previous year, shall be ignored.

(e) Notes:

1. “Author” includes a joint author.

2. “Books” shall not include brochures, commentaries, diaries, guides, magazines, journals, newspapers, pamphlets, text books for schools, tracts and other publications of similar nature, by whatever name called.

3. “Lump sum”, in regard to royalties or copyright fees, includes an advance payment on account of such royalties or copyright fees which is not returnable.

4. Competent authority shall be the Reserve Bank of India or such other authority as is authorised under any law for the time being in force for regulating payments and dealings in foreign exchange.

Deduction under Section 80QQB

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