What is the percentage of Income derived from sale of coffee grown and manufactured in India, as per Rule 7B(1) of the Income Tax rules, is not taxable (exempted) from the Income Tax ?

CS Executive · Tax Laws and Practice · PYQS · December 2021
What is the percentage of Income derived from sale of coffee grown and manufactured in India, as per Rule 7B(1) of the Income Tax rules, is not taxable (exempted) from the Income Tax ?
(A) 30%
(B) 40%
(C) 60%
(D) 75%

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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