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TMI BlogInsertion of new section 80RRBX X X X Extracts X X X X X X X X Extracts X X X X ..... vidual, who is- (a) resident in India; (b) a patentee; (c) in receipt of any income by way of royalty in respect of a patent registered on or after the 1st day of April, 2003 under the Patents Act, 1970 (39 of 1970) , and his gross total income of the previous year includes royalty, there shall, in accordance with and subject to the provisions of this section, be allowed a deduction, from such inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r period as the competent authority referred to in clause (c) of the Explanation to section 80QQB may allow in this behalf. (2) No deduction under this section shall be allowed unless the assessee furnishes a certificate in the prescribed form, duly signed by the prescribed authority, along with the return of income setting forth such particulars as may be prescribed. (3) No deduction under this s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent (including a patent of addition) granted under the Patents Act, 1970 (39 of 1970) ; (d) "patentee" means the person, being the true and first inventor of the invention, whose name is entered on the patent register as the patentee, in accordance with the Patents Act, 1970 (39 of 1970) , and includes every such person, being the true and first inventor of the invention, where more than one perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the granting of a licence) in respect of a patent; or (ii) the imparting of any information concerning the working of, or the use of, a patent; or (iii) the use of any patent; or (iv) the rendering of any services in connection with the activities referred to in sub-clauses (i) to (iii) ; (h) "true and first inventor" shall have the meaning assigned to it in clause (y) of sub-section (1) of sec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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