Section 180 of Income Tax Act for AY 2023-24

Section 180 of Income Tax Act 1961 amended by Finance Act and Income-tax Rules. Royalties or copyright fees for literary or artistic work.

Amended and updated notes on section 180 of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to Royalties or copyright fees for literary or artistic work.

Chapter XV (Sections 159 to 180A) of the Income Tax Act 1961 deals with the provisions related to liability in special cases. Section 180 of IT Act 1961 provides for Royalties or copyright fees for literary or artistic work.

Recently, we have discussed in detail section 179 (Liability of directors of private company) of IT Act 1961. Today, we learn the provisions of section 180 of Income-tax Act 1961. The amended provision of section 179 is effective for financial year 2022-23 relevant to the assessment year 2023-24.

In this article, you will learn detail of the provisions of section 180 of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962 as provided by Ministry of Law and Justice, Government of India.

Where the time taken by the author of a literary or artistic work in the making thereof is more than twelve months, the amount received or receivable by him during any previous year on account of any lump sum consideration for the assignment or grant of any of his interests in the copyright of that work or of royalties or copyright fees (whether receivable in lump sum or otherwise), in respect of that work, shall, if he so claims, be allocated for purposes of assessment in such manner and to such period as may be prescribed:

Provided that nothing contained in this section shall apply in relation to the previous year relevant to the assessment year commencing on or after the 1st day of April, 2000.

Explanation: For the purposes of this section, the expression “author” includes a joint author, and the expression “lump sum“, in regard to royalties or copyright fees, includes an advance payment on account of such royalties or copyright fees which is not returnable.


Open Demat Account

For Investing or Trading

(Best Investing and Trading Platform in India)

Learn More