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Under section 48 of the Income-tax Act, 2025, read with Schedule IX, which of the following businesses can claim the deduction for deposits into the special account or deposit account, other…

Question and options

Under section 48 of the Income-tax Act, 2025, read with Schedule IX, which of the following businesses can claim the deduction for deposits into the special account or deposit account, other conditions being met?

  1. Growing and manufacturing tea in India
  2. Growing and manufacturing coffee in India
  3. Growing and manufacturing rubber in India
  4. Growing and processing cardamom in India

  1. 1 and 3 only

  2. 1 and 2 only

  3. 1, 2, 3 and 4

  4. 1, 2 and 3 only

Answer and explanation

Correct answer: D - 1, 2 and 3 only

Section 48(1) of the Income-tax Act, 2025 allows the deduction, computed under Schedule IX, only to an assessee carrying on the business of growing and manufacturing tea, coffee or rubber in India. Cardamom and other spices are not covered, though they are also plantation crops.

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