The point was clear. Let's look at an example.
This is Ms. Vivita resident.
This is her income.
First of all, she got her income from latex.
Latex processed from rubber.
We had seen how much in business and agriculture.
Then sale of coffee.
Sale of coffee grown, cured, roasted.
Tea.
Income from sapling and seedling.
Tea, coffee, rubber.
We know that 1% of sales will go to business.
2% will go to agriculture and will be exempted.
But, have we read the 5th point?
Income from sapling and seedling.
We have not read this anywhere.
This one is for Rs. 80,000.
What will be 80,000 for us?
Agriculture income.
Come here.
How did she differentiate?
Sale from centrifuged latex.
From rubber.
Out of Rs. 3,00,000, 35% went to business.
The rest went to agriculture.
Coffee, 25%.
The rest went to agriculture.
Sale of coffee roasted and grounded outside India.
These are India's income tax provisions.
Outside income tax is taxable for residents.
Sale of tea, Rs. 4,00,000.
The rest is exempted.
Sapling and seedling is purely agricultural income.
So, it is not taxable.
This is what she did.
Look at the answer.
She did the same for business and agriculture.
Any problem?
With this, our head of PGVP has lived his last breath.
Doctor has come out of the operation theatre.
He is saying, I am sorry.
I can't do anything about it.
Medicine and prayers can't help you now.
He has counted his last breath.
Our chapter ends here.
It was very important.
I don't want to say complex.
But it was good.
We got to learn a lot.
How to take expenses.
What expenses are allowed and disallowed.
What are the limits.
The whole head was related to business.
It is important because wherever you go to work, the owner
will have his own business.
Whatever you have to do in taxation, you have to do it
according to the head of PGVP.
Secondly, if you start your own business, you should have
knowledge of PGVP.
These are the things.
This was the head.
Whether you should do business or not, you should do it if
you get a chance.
If the base is not good, do the job first.
Collect some money.
I know that there is a risk.
But it is said that the biggest risk in this world is not
to take any risk.
So take a risk.
What will happen if you take a risk?
If you lose some money, you won't regret that you should
have started a business when you were 70 years old.
You won't regret that you should have started a business
when you were young.
You won't regret that you should have started a business
when you were young.
No matter how young you are, you should have started a
business.
With this hope,
I am seeing a future entrepreneur in you.
You will start your own business.
With this hope,
I say goodbye to you.
This is where our head ends.
We will meet in the next lecture and discuss about capital
gains.
and discuss about capital gains.
Till then, take care.
Thank you.
Sayonara.