(1)An assessee, being an individual, who is––(a)resident in India;(b)a patentee;(c)in receipt of income by way of royalty in respect of a patent registered on or after the 1st April, 2003 under the Patents Act, 1970; and.;(d)having gross total income for the tax year which includes royalty,shall be allowed a deduction from such income computed in the manner specified in sub-sections (2) to (7).
