Deduction of royalty on patents.

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..... ources'. (2) The income referred to in sub-section (1) shall be any income received by the person by way of royalty in respect of a patent registered on or after the 1st day of April, 2003 under the Patents Act, 1970. (3) The amount of deduction under sub-section (1) shall be the amount of income referred to in sub-section (2) to the extent it does not exceed the amount of royalty allowable under .....

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..... lause (q) of sub-section (1) of section 2 of the Patents Act, 1970; 39 of 1970. (d) "patented article" and "patented process" shall have the meanings respectively assigned to them in clause (o) of sub-section (1) of section 2 of the Patents Act, 1970;39 of 1970. (e) "royalty", in respect of a patent, means consideration (including any lump sum consideration but excluding any consideration which wo .....

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