_____ refers to income received for granting leasing rights of sub-soil assets.
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_____ refers to income received for granting leasing rights of sub-soil assets.
Anurag Pathak Changed status to publish December 22, 2023
Royalty refers to income received for granting leasing rights of sub-soil assets.
Explanation:-
Royalty is just the rent earned by giving sub-soil assets on rent (leasing) for a few months and year.
Subsoil assets are developed and undeveloped reserves of mineral deposits located on or below the earth’s surface
It consist of coal, oil and natural gas reserves, metallic mineral reserves and non-metallic mineral reserves
Anurag Pathak Changed status to publish December 10, 2023
