As per the rule 7A of the income tax act, income earned from the sale of rubber in India, 35% of such income shall be treated as business income and taxable accordingly.
Thus, 35% of your income from the sale of rubber shall be taxable as business income.
Please mark your satisfactory level...
My Dear ,
I thank you for marking the answer as satisfactory.
I have noted.
It will be very nice and helpful to our other members (and the answerer too) if you mark your satisfaction level on the grade scale below.
Please feel free to mark any point. I don't share it with anyone. I use it for doing my internal calculations only. I use these calculations to evaluate the service performance of the relevant virtuoso.
Here is the grade scale:
Thank you,
Yours sincerely,
Anu, Thakurani's bestie
Asked by Pankaj on :Jun. 20, 2018
