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of <h1>Income from specific rubber products taxed as business income under Rule 7A; 35% subject to tax.</h1> Income from the sale of specific rubber products, such as centrifuged latex and various crepes, derived from rubber plants grown by the seller in India, is treated as business income under Rule 7A of the Income-tax Rules, 1962. Thirty-five percent of this income is subject to tax. When calculating this income, an allowance is provided for the cost of replanting rubber plants that have died or become permanently useless, provided the area has not been abandoned. No deduction is allowed for subsidies that are not included in total income under section 10, clause 31.
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