Mr. Uday is a resident individual having a patent registered on 1.7.2016 under the Patents Act, 1970. He received ₹ 5 lakh by way of royalty from ABC Ltd. during the financial year 2020-21. The quantum of royalty eligible for deduction would be:

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Question:Mr. Uday is a resident individual having a patent registered on 1.7.2016 under the Patents Act, 1970. He received ₹ 5 lakh by way of royalty from ABC Ltd. during the financial year 2020-21. The quantum of royalty eligible for deduction would be:

1. ₹ 5 lakhs

2.₹ 3 lakhs

3. ₹ 1 lakh

4. ₹ 2 lakhs

Posted by R4R Team
  1. Mr. Uday is a resident individual having a patent registered on 1.7.2016 under the Patents Act, 1970. He received ₹ 5 lakh by way of royalty from ABC Ltd. during the financial year 2020-21. The quantum of royalty eligible for deduction would be:
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