As per the rule 8 of the income tax act, income earned from the sale of tea grown and manufactured in India, 40% of such income shall be treated as business income and taxable accordingly.
Thus, 40% of your income from the sale of tea grown shall be taxable as business income.
Please mark your satisfactory level...
My Dear ,
I thank you for marking the answer as satisfactory.
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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.
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Yours sincerely,
Anu, Thakurani's bestie
Asked by Pankaj on :Jun. 20, 2018
