Financial Daily from THE HINDU group of publications
Friday, Jun 21, 2002
Financial Daily from THE HINDU group of publications Friday, Jun 21, 2002 |
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Agri-Biz & Commodities
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Coffee Industry & Economy - Taxation CBDT note on coffee income Our Bureau
NEW DELHI, June 20 THE CBDT has issued a notification to provide that 25 per cent of the income derived from the sale of coffee grown and cured by the seller in India would be computed as if it were income derived from business. Besides, 40 per cent of the income derived from the sale of coffee grown, cured, roasted and grounded by the seller in India, with or without mixing chicory or other flavouring ingredients would be computed as if it were income derived from business. The modification in the rules regarding bifurcation of business income and agricultural income of coffee has been carried out by the CBDT, according to an official release.
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