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Royalty as business income

Shreyas Pandharkar (39 Points)

22 August 2018

Can royalty be business income?
Please provide examples.

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8 Replies

CA P V N Varma (CA ) (609 Points)
Replied 22 August 2018

No it is not a business income not shown as PGBP. it is shown under head Other sources
for royalties maximum deduction u/s 80RRB and 80QQB is Rs.3 lacs

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(Guest)

Agreed with Varma

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CA Bhavik Soni (867 Points)
Replied 22 August 2018

Agreed with mr verma

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Shreyas Pandharkar (39 Points)
Replied 24 August 2018

Thank you for the replies.
But an author's royalty income will come in PGBP as professional income,right?

(Guest)

Yes

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Shreyas Pandharkar (39 Points)
Replied 24 August 2018

Can it be professional income for some other type of professional??

CA P V N Varma (CA ) (609 Points)
Replied 24 August 2018

it comes under head other source for other professionals

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Shreyas Pandharkar (39 Points)
Replied 24 August 2018

I actually wanted to ask

Can royalty received by some other type of professional for his work in his profession be considered as professional income??