80 QQB

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CA Sourabh Agarwal (Querist)
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28 April 2010 pls exlain me deduction where royalty is not received in lumpsum but received on % of books sold

Which value for 15% is taken

thnx

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 April 2010 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, so much of the income, before allowing expenses attributable to such income, as is in excess of fifteen per cent of the value of such books sold during the previous year shall be ignored.