Mr. Ramesh engaged in the business of growing and manufacturing tea in India received ₹ 2 lakhs from the Tea Board towards a replacement of tea bushes destroyed by a forest fire. The amount received from Tea Beard by Mr. Ramesh is:

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Question:Mr. Ramesh engaged in the business of growing and manufacturing tea in India received ₹ 2 lakhs from the Tea Board towards a replacement of tea bushes destroyed by a forest fire. The amount received from Tea Beard by Mr. Ramesh is:

1.Liable to tax

2. Exempt from tax

3.50% is exempt from tax

4. 25% is exempt from the tax

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  1. Mr. Ramesh engaged in the business of growing and manufacturing tea in India received ₹ 2 lakhs from the Tea Board towards a replacement of tea bushes destroyed by a forest fire. The amount received from Tea Beard by Mr. Ramesh is:
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