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TAX INCENTIVES FOR AUTHORS!

While Rs.3 lakhs of specified royalty is exempt, an adhoc deduction of upto Rs.5,000 is also available out of honorarium!              As per the provisions of Section 80QQB, for purposes of computing the taxable income in case of an author, who is an individual resident in India, a special deduction of upto Rs.3,00,000 is available in respect of specified royalty income earned by him.              Such specified...

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