https://www.taxtmi.com/notifications?id=119201 Rules 7A and 7B amend the Income-tax Rules, 1962 to treat income from manufacture of rubber (centrifuged latex/cenex) and coffee as business income, deeming 35% and 40% respectively to be income liable to tax. Both provisions allow an allowance for replanting costs where plants have died or become permanently useless in an area not previously abandoned, and specify that no deduction for subsidies excluded from total income under clause (31) of section 10 shall be made when determining that cost. The amendment is effective from 1 April 2002. en-us Wed, 28 Feb 2001 00:00:00 +0530 Sat, 30 Apr 2016 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=119201 Rules 7A and 7B amend the Income-tax Rules, 1962 to treat income from manufacture of rubber (centrifuged latex/cenex) and coffee as business income, deeming 35% and 40% respectively to be income liable to tax. Both provisions allow an allowance for replanting costs where plants have died or become permanently useless in an area not previously abandoned, and specify that no deduction for subsidies excluded from total income under clause (31) of section 10 shall be made when determining that cost. The amendment is effective from 1 April 2002. Notifications Income Tax Wed, 28 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/notifications?id=119201