§ 48
Chapter IV — Computation Of Total Income
Deduction for Tea, Coffee and Rubber Business
Income-tax Act, 2025
Assessees engaged in growing or manufacturing tea, coffee or rubber in India can claim a deduction based on deposits made into a special or deposit account, as prescribed in Schedule IX of the Act.
Any amount withdrawn from these accounts, whether at closure or earlier, is taxable according to Schedule IX. Likewise, if an asset acquired under the special or deposit scheme is sold or transferred, the gain is taxed as per the same schedule.
📜 Official text of the section +
48. (1) Where an assessee is carrying on business of growing and manufac-
turing tea or coffee or rubber in India, such assessee shall be allowed a
deduction on the basis of deposits into the special account or deposit account
and computed as per the provisions of the Schedule IX.
(2) Any amount withdrawn or utilised or released from the aforesaid accounts at
the time of closure or otherwise shall be charged to tax as per the provisions of the
Schedule IX.
(3) Where any asset acquired as per the special scheme or the deposit scheme, as
referred to in the Schedule IX, is sold or otherwise transferred in any tax year, it
shall be charged to tax in accordance with the provisions of the said Schedule.
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Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.