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Feb 29, 2020 12:49 PM
GUWAHATI: Ahead of the State Budget for the year 2020-21 to be tabled in the Assembly on March 6, the tea industry has approached Dispur seeking exemption from paying agricultural income tax for the next three to five years.
In their pre-Budget memoranda to the State Finance Department, various tea associations said that the agricultural income constitutes 60 per cent of the total income, on which tax is being levied at 30 per cent.
“Given the cost pressures faced by the industry, it is submitted that exemption from payment of agricultural income tax be granted to the tea sector for a period of three to five years in line with similar exemptions granted by other State governments,” a memorandum said.