Income Tax Act, 2025
Section 5: Subs. by s. 44, ibid., for the Explanation (w.e.f. 12018).
5. Subs. by s. 44, ibid., for the Explanation (w.e.f. 12018).
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(b) “specified assessee” means a person other than,—
(i) a domestic company; or
(ii) a fund or institution or trust or any university or other educational institution or any
hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or
sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or
(iii) a trust or institution registered under section 12A or section 12AA.]
1[115BBE. Tax on income referred to in section 68 or section 69 or section 69A or section 69B or
section 69C or section 69D.—2[(1) Where the total income of an assessee,—
(a) includes any income referred to in section 68, section 69, section 69A, section 69B,
section 69C or section 69D and reflected in the return of income furnished under section 139; or
(b) determined by the Assessing Officer includes any income referred to in section 68,
section 69, section 69A, section 69B, section 69C or section 69D, if such income is not covered under
clause (a),
the income-tax payable shall be the aggregate of—
(i) the amount of income-tax calculated on the income referred to in clause (a) and clause (b), at
the rate of sixty per cent; and
(ii) the amount of income-tax with which the assessee would have been chargeable had his total
income been reduced by the amount of income referred to in clause (i).]
(2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or
allowance 3[or set off of any loss] shall be allowed to the assessee under any provision of this Act in
computing his income referred to in clause (a) 4[and clause (b)] of sub-section (1).]
5[115BBF. Tax on income from patent.—(1) Where the total income of an eligible assessee
includes any income by way of royalty in respect of a patent developed and registered in India, the
incometax payable shall be the aggregate of—
(a) the amount of income-tax calculated on the income by way of royalty in respect of the patent
at the rate of ten per cent.; and
(b) the amount of income-tax with which the assessee would have been chargeable had his total
income been reduced by the income referred to in clause (a).
(2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or
allowance shall be allowed to the eligible assessee under any provision of this Act in computing his
income referred to in clause (a) of sub-section (1).
(3) The eligible assessee may exercise the option for taxation of income by way of royalty in respect
of a patent developed and registered in India in accordance with the provisions of this section, in the
prescribed manner, on or before the due date specified under sub-section (1) of section 139 for furnishing
the return of income for the relevant previous year.
“specified assessee” means a person other than,—
a domestic company; or
a fund or institution or trust or any university or other educational institution or any
hospital or other medical institution referred to in sub-clause
or sub-clause
or
sub-clause
or sub-clause
of clause
of section 10; or
a trust or institution registered under section 12A or section 12AA.]
1[115BBE. Tax on income referred to in section 68 or section 69 or section 69A or section 69B or
section 69C or section 69D.—2[
Where the total income of an assessee,—
includes any income referred to in section 68, section 69, section 69A, section 69B,
section 69C or section 69D and reflected in the return of income furnished under section 139; or
determined by the Assessing Officer includes any income referred to in section 68,
section 69, section 69A, section 69B, section 69C or section 69D, if such income is not covered under
clause
the amount of income-tax calculated on the income referred to in clause
and clause
the amount of income-tax with which the assessee would have been chargeable had his total
income been reduced by the amount of income referred to in clause
Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or
allowance 3[or set off of any loss] shall be allowed to the assessee under any provision of this Act in
computing his income referred to in clause
4[and clause
Where the total income of an eligible assessee
includes any income by way of royalty in respect of a patent developed and registered in India, the
incometax payable shall be the aggregate of—
the amount of income-tax calculated on the income by way of royalty in respect of the patent
at the rate of ten per cent.; and
the amount of income-tax with which the assessee would have been chargeable had his total
income been reduced by the income referred to in clause
Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or
allowance shall be allowed to the eligible assessee under any provision of this Act in computing his
income referred to in clause
of sub-section
The eligible assessee may exercise the option for taxation of income by way of royalty in respect
of a patent developed and registered in India in accordance with the provisions of this section, in the
prescribed manner, on or before the due date specified under sub-section
of section 139 for furnishing
the return of income for the relevant previous year.