Mr. Vinayak derived income from the sale of tea manufactured and grown in Coorg, Karnataka. His income for the previous year 2020-21 from the said activity is ₹ 20 lakh. The amount exempt from tax by way of agricultural income is:

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Question:Mr. Vinayak derived income from the sale of tea manufactured and grown in Coorg, Karnataka. His income for the previous year 2020-21 from the said activity is ₹ 20 lakh. The amount exempt from tax by way of agricultural income is:

1.₹ 8 lakhs (40%)

2. ₹ 5 lakhs (25%)

3.₹ 12 lakhs (60%)

4. ₹ 7 lakhs (35%)

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  1. Mr. Vinayak derived income from the sale of tea manufactured and grown in Coorg, Karnataka. His income for the previous year 2020-21 from the said activity is ₹ 20 lakh. The amount exempt from tax by way of agricultural income is:
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