Mr. Z is the first inventor of the invention and whose name is entered on the Patent register as the patentee (as owner or co-owner of a patent) in accordance with the Patent Act, 1970. Find the maximum deduction he can claim for income earned from royalty?
1
Rs. 20,000
2
Rs. 4,00,000
3
Rs. 50,000
4
Rs. 3,00,000