Deduction under section 80HHC of the Income-tax Act, 1961, in the case of taxpayers engaged in the business of growing and manufacturing tea

Deduction under section 80HHC of the Income-tax Act, 1961, in the case of taxpayers engaged in the business of growing and manufacturing tea https://www.taxtmi.com/circulars?id=5017 The circular directs that the deduction under section 80HHC for tea growers and manufacturers is to be allowed only after the composite profit is allocated under rule 8 to determine the income chargeable to tax under "Profits and gains of business and profession"; the deduction is then computed with reference to that taxable business portion and apportioned in relation to export turnover. en-us Thu, 23 May 1991 00:00:00 +0530 Fri, 08 Aug 2008 15:02:00 +0530 TaxTMI RSS Generator Deduction under section 80HHC of the Income-tax Act, 1961, in the case of taxpayers engaged in the business of growing and manufacturing tea https://www.taxtmi.com/circulars?id=5017 The circular directs that the deduction under section 80HHC for tea growers and manufacturers is to be allowed only after the composite profit is allocated under rule 8 to determine the income chargeable to tax under "Profits and gains of business and profession"; the deduction is then computed with reference to that taxable business portion and apportioned in relation to export turnover. Circulars Income Tax Thu, 23 May 1991 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5017