Income from Patents in India : 7 Important Points

0
1097
Print Friendly, PDF & Email

Government of India has initiated a tax policy vide Finance Act 2016 to incentivise the effort of innovators in India by introducing a separate and exclusive taxation regime  for income from patents granted to  resident innovators  in India . This post is simplifying theteh provision of section 115BBF of the Income Tax Act that offers a simple tax rate of 10% on income in form of royalties to patentee . 

greenblueyellow