Eligible Assessee
Farm producer companies (FPC) engaged in the business of
- Marketing of agriculture produce grown by its members,
- Purchase of agricultural Implements, seeds, livestock or other articles agriculture or supplying to its members
- Processing of agricultural produce of its members
Amount of deduction
100% of profit is eligible for deduction under this section.
Conditions
- Total turnover of Farm Producer Companies shall be less than Rs:100 crores in any previous year
- Deduction available only from Assessment year 2012-2020 to Assessment 2024-2025.
Example
| Turnover of Eligible Business | Turnover of other business | Total Turnover | Whether eligible to claim deduction | Reason |
| 85 Crores | 14 Crores | |||
| 99 Crores | Yes | Total Turnover is less than Rs.100 crores | ||
| 70 Crores | 32 Crores | 102 Crores | ||
| No | Turnover is more than Rs.100 crores | |||
| 50 Crores | 50 Crores | 100 Crores | No | Turnover is not less than Rs.100 crores |
| 90 Crores | 90 Crores | |||
| NIL | No | Turnover does not include profit derived from eligible business | ||
| 100 Crores | NIL | 100 Crores | No | Turnover is not less than Rs.100 crores |
