I intent to write one book. What is the maximum amount of deduction that I can claim on Royalty?
I intent to write one book. What is the maximum amount of deduction that I can claim on Royalty?
Jeeba Aug. 17, 2018
Income earned like royalty by a book writer shall be allowed as a deduction under section 80QQB subject to the certain conditions.
Deduction in respect of royalty income, etc., of authors of certain books other than text-books
This section provides the deduction only to the resident individual and for the books other than textbooks.
The deduction under this section is as follows.
- Royalty income or
- Rupees three lacs
Whichever is lower.
