Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Rubber income computation treated as business income with specific plantation replacement cost allowance and subsidy exclusion. Income derived from the sale of centrifuged latex, cenex, latex-based crepes, brown crepes, or technically specified block rubbers manufactured or processed from field latex or coagulum obtained from rubber plants grown by the seller in India is computed as business income, and thirty-five per cent is deemed taxable. An allowance is also available for the cost of planting rubber plants in replacement of plants that have died or become permanently useless in an already planted area, subject to the condition that the area has not been abandoned, and no deduction is made for excluded subsidy amounts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Rubber income computation treated as business income with specific plantation replacement cost allowance and subsidy exclusion.
Income derived from the sale of centrifuged latex, cenex, latex-based crepes, brown crepes, or technically specified block rubbers manufactured or processed from field latex or coagulum obtained from rubber plants grown by the seller in India is computed as business income, and thirty-five per cent is deemed taxable. An allowance is also available for the cost of planting rubber plants in replacement of plants that have died or become permanently useless in an already planted area, subject to the condition that the area has not been abandoned, and no deduction is made for excluded subsidy amounts.
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