Finance Ministry has proposed how much percent deduction to companies registered as Farmer Producer Companies with an annual turnover upto Rs. 100 crore on profit derived from such activities, for a period of five years from financial year 2018-19?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	10%
B	80%
C	90%
D	100%

Explanation:

Detailed explanation-1: -Shri Jaitley has proposed 100 percent deduction to companies registered as Farmer Producer Companies with an annual turnover upto Rs.

Detailed explanation-2: -Amount of Deduction under Section 80PA-If the above conditions are satisfied, the producer company can claim 100% Deduction for the assessment years 2019-20 to 2024-25 in respect of profits and gains of ‘Eligible Business’.

Detailed explanation-3: -This note analyses issues in the agriculture sector, expenditure trends and budget proposals of these Departments. The Ministry has been allocated Rs 57, 600 crore in 2018-19. [1] This is 14.6% more than the revised estimate in 2017-18 as shown in Figure 1.

Detailed explanation-4: -Since 2011, the government has intensively promoted the FPOs under the NABARD, SFAC, NGOs and state governments. There was an announcement of measures for supporting the FPOs in Budget 2018-19, including a five-year tax exemption. The Budget 2019-20 talked of setting up additional 10, 000 FPOs in the next five years.

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