Rule 134 requires an eligible assessee opting to be taxed on royalty from a patent developed and registered in India under section 194(1) [Table: Sl. No. 2] to furnish Form No. 65 by the return due date for the year of the option.
134
Rules 2026 · Rule 134
Exercise of option for taxation of royalty income from patent under section 194(1) [Table: Sl. No. 2]
Rules 131-200
The rule. To exercise the option for taxation of income as royalty in respect of a patent developed and registered in India, the eligible assessee furnishes Form No. 65 (sub-rule 1). It is furnished on or before the due date under section 263(1)(c) for the return of income for the relevant tax year, if the option is exercised for that year (sub-rule 2).