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of <h1>Producer Company under Rs.100 crore can fully deduct profits from eligible business for AYs 2019-20 to 2024-25</h1> A Producer Company with total turnover below Rs.100 crore in a previous year may deduct 100% of profits attributable to its 'eligible business' when computing taxable income for assessment years commencing on or after 1 April 2019 and before 1 April 2025. If other chapter deductions apply, the deduction under this section is calculated with reference to the income after those deductions. 'Eligible business' comprises marketing members' agricultural produce; purchasing agricultural implements, seeds, livestock or other articles to supply members; and processing members' agricultural produce. 'Member' and 'Producer Company' have meanings as given in the Companies Act.
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