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]

Patent - Tax - CBDT - Taxscan

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.

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