CBDT issues Form to Opt for Concessional Tax under Patent Regime [Read Notification]
![CBDT issues Form to Opt for Concessional Tax under Patent Regime [Read Notification]](https://www.taxscan.in/wp-content/uploads/2017/04/Patent.jpg "CBDT issues Form to Opt for Concessional Tax under Patent Regime [Read Notification]")
An eligible assessee, under section 115BBF of the Income Tax Act can opt for concessional rate of Income Tax by way of royalty in respect of a patent developed and registered in India. For this purpose, the assessee shall furnish the newly notified Form No. 3 CFA. The form can be furnished electronically either by using digital signature or through electronic verification code. The...
An eligible assessee, under section 115BBF of the Income Tax Act can opt for concessional rate of Income Tax by way of royalty in respect of a patent developed and registered in India. For this purpose, the assessee shall furnish the newly notified Form No. 3 CFA.
The form can be furnished electronically either by using digital signature or through electronic verification code.
The detailed rules and required contents are prescribed in the Notification below.
