If an assessee is engaged in the business of growing and curing coffee in India, then what portion will…
The agricultural portion is 75% of the income from coffee grown and cured in India. The remaining 25% is treated as business income, so the entire income is not agricultural.
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If an assessee is engaged in the business of growing and curing coffee in India, then what portion will be agricultural income in such situation ?
Answer and explanation
Correct answer B
The agricultural portion is 75% of the income from coffee grown and cured in India. The remaining 25% is treated as business income, so the entire income is not agricultural.
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Madhya Pradesh SET (MP SET)