tax on agricultural income

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Dear sir,

 one of our client have agricultual income from sale of rubber sheet Rs. 10 lakhs . As per rule 7A - 35% of such income is chargable under income from business and 65% is treated as agricultural income. My doubt is whether the 65% and 35% is to be arrived from gross income or net income after claiming all expenses. please guide me

Replies (1)

Gross Income Is to be Distribute Dear Friend

No business Exepenses is allowed against agriculture income as Per Sec 14A

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