Section 80QQB Deduction

Section 80QQB deduction can be claimed by taxpayers who are authors resident in India having royalty income. The maximum deduction allowed under Section 80QQB is Rs.3 lakhs.

Section 80QQB Eligibility Criteria

Type of Book

Royalty on literary, artistic and scientific books are only eligible for tax deduction under Section 80QQB. Royalties from textbooks, journals and diaries will not qualify for tax deduction.

Residency

To avail section 80QQB deduction, the taxpayer must be an individual Indian resident (may be an Indian citizen or a foreign citizen). The taxpayer should have authored or co-authored a book that falls under the category or literary, artistic or scientific work.

Amount of Deduction under Section 80QQB

A deduction of upto Rs.3 lakhs can be claimed by taxpayers in a year. The deduction will be limited to the amount received on account of royalty or copyright fees (whether receivable in lump sum or otherwise). In case of lump sum payment, the whole of the amount would be eligible for tax deduction. If the royalty or copyright fee is not in lump sum, 15% of the value of books sold before allowing any expenses or actual amount received whichever is less.

Form 10CCD Certificate

For claiming deduction under Section 80QQB, the taxpayer is required to furnish a certificate in Form 10CCD duly verified by the person responsible for making payment of royalty to the assessee.

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