Mr. X income of ₹ 22 lakhs from manufacture and sale of coffee grown, cured, roasted and grounded by him in India. The business income chargeable to tax in his hands would be:
A. ₹ 8,80,000
B. ₹ 5,50,000
C. ₹ 13,20,000
D. ₹ 16,50,000
Answer:A
Mr. X income of ₹ 22 lakhs from manufacture and sale of coffee grown, cured, roasted and grounded by him in India. The business income chargeable to tax in his hands would be:
A. ₹ 8,80,000 B. ₹ 5,50,000 C. ₹ 13,20,000 D. ₹ 16,50,000