Shukla and sons Ltd. grows rice on their lands. Details for the previous year
2019-20 are as follows:
i) Cost of cultivation of rice (5,000 tons) 10 lakhs
ii) Rice sold in market (1,000 tons) at a price of total 3 lakhs
iii) Rice used at his Rice Mill for business (4.000 tons)
iv) Cost incurred at Rice Mill is 5 lakhs
v) Rice furnished at Rice Mill 85 sold in market 25 lakhs
Compute income of Shukla and sons Ltd. from agricultural resources only for the
assessment year 2020-21
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non agriculture income= 800000
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