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Deduction u/s 80qqb

Poonam Holani (Article Assistant) (38 Points)

23 April 2017

Can anyone plz explain this section with simple illustration.

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nitin sharma (PRACTITIONER OF INCOME TAX SALES TAX AND GST) (72 Points)
Replied 23 April 2017

Explanation.—For the purposes of this section,—

(a) "author" includes a joint author;

(b) "books" shall not include brochures, commentaries, diaries, guides, journals, magazines, newspapers, pamphlets, text-books for schools, tracts and other publications of similar nature, by whatever name called;

(c) "competent authority" means 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;

(d) "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.