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Income from rice mill

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(Querist)
28 May 2012 I have two question regarding income from business of Rice Mill -

1. whether paddy/rice grinding and polishing amounts to manufacturing and,

2. Can we file the return of income from the above mention business under presumptive income sec 44AD of Income Tax Act

Thanks
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Soumitra Basu

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Soumitra Basu (Expert)
29 May 2012 If you are taking out Rice from the Paddy then it is a Manufacturing Process otherwise not.
Yes you can opt for deemed income under section 44AD.

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