①Where an individual engaged in agriculture (meaning the business prescribed in Article 2, paragraph (1), item (xxxv) of the Income Tax Act) has sold, in any year from 1981 through 2029, the beef cattle prescribed in each of the following items by the method of sale listed in that item, if all of the beef cattle sold are tax-exempt raised cattle (meaning beef cattle registered by a registration specified by Cabinet Order based on the registration rules prescribed in Article 32-9, paragraph (1) of the Act on Improvement and Increased Production of Livestock (Act No. 209 of 1950) that have been approved by the Minister of Agriculture, Forestry and Fisheries pursuant to the provisions of that paragraph, or beef cattle whose sale price is less than 1,000,000 yen (or less than 800,000 yen where the beef cattle sold fall under the category of crossbred cattle specified by Order of the Ministry of Finance, and less than 500,000 yen where they fall under the category of dairy cattle specified by Order of the Ministry of Finance); the same applies in the following paragraph) and the total number of head of beef cattle sold is 1,500 or less, the individual's income tax on business income arising from the sale for the year that includes the day of the sale is exempted.

②Where an individual prescribed in the preceding paragraph has sold, in any year prescribed in that paragraph, the beef cattle prescribed in each item of that paragraph by the method of sale listed in that item, if the beef cattle sold include beef cattle that are not tax-exempt raised cattle, or, where the total number of head of beef cattle that are tax-exempt raised cattle exceeds 1,500, the tax-exempt raised cattle in the excess portion (including the case where none of the beef cattle sold are tax-exempt raised cattle), the amount of income tax pertaining to the amount of gross income of that individual for the year that includes the day of the sale may be the total of the following amounts, instead of the amount of income tax calculated pursuant to the provisions of Part II, Chapters II through IV of the Income Tax Act.

③The beef cattle prescribed in the preceding two paragraphs means cattle other than the following cattle:

④The provisions of paragraph (1) or paragraph (2) apply only if the tax return contains a statement to the effect that the individual seeks the application of those provisions and matters concerning the details of the business income prescribed in those provisions, and has attached to it a document certifying that the sale of the beef cattle prescribed in those provisions was made by a method of sale listed in the items of paragraph (1), the sale price, and any other matters specified by Order of the Ministry of Finance.

⑤Even where a tax return without the statement or attachment referred to in the preceding paragraph has been filed, the district director may, when the district director finds that there was an unavoidable reason for the absence of the statement or attachment, apply the provisions of paragraph (1) or paragraph (2), only if a document containing that statement and the certifying document referred to in that paragraph are submitted. The same applies where a person who receives the application of the provisions of paragraph (1) has not filed a tax return, when the district director finds that there was an unavoidable reason for the failure to file it.

⑥With regard to the calculation of the amount of income tax listed in Article 120, paragraph (1), item (iii) of the Income Tax Act in the case where the provisions of paragraph (2) are applied to income tax for the year, the phrase "Chapter III (Calculation of Tax Amount)" in that item is deemed to be replaced with "Chapter III (Calculation of Tax Amount) and Article 25, paragraph (2) of the Act on Special Measures Concerning Taxation (Special Provisions on Taxation of Agricultural Income from the Sale of Beef Cattle)".

⑦Beyond what is provided for in paragraph (1) and paragraph (2), the method of calculating the amount of income tax exempted pursuant to the provisions of paragraph (1) and other necessary matters concerning the application of the provisions of that paragraph and paragraph (2) are specified by Cabinet Order.

①The amount of real estate income, the amount of business income, or the amount of timber income of an individual who has obtained approval from the district director to file blue returns, for a year for which the individual has that approval (excluding a year for which the provisions of paragraph (3) apply), is the amount calculated by deducting the lower of the following amounts from the amount of real estate income, the amount of business income, or the amount of timber income calculated pursuant to the provisions of Article 26, paragraph (2), Article 27, paragraph (2), or Article 32, paragraph (3) of the Income Tax Act:

②The amount to be deducted pursuant to the provisions of the preceding paragraph is deducted from the amount of real estate income, the amount of business income, or the amount of timber income, in that order.

③Where an individual who has obtained approval from the district director to file blue returns and who engages in a business that generates real estate income or business income (excluding a person who receives the application of the provisions of Article 67, paragraph (1) of the Income Tax Act) keeps books and documents for that business pursuant to the provisions of Article 148, paragraph (1) of that Act and records in them the transactions pertaining to the amount of real estate income or the amount of business income for a year for which the individual has that approval (limited to the cases specified by Order of the Ministry of Finance as cases where the details of all transactions pertaining to the amount of that income are recorded in detail), the amount of real estate income or the amount of business income for that year is the amount calculated by deducting the lower of the following amounts from the amount of real estate income or the amount of business income calculated pursuant to the provisions of Article 26, paragraph (2) or Article 27, paragraph (2) of that Act:

④Where an individual prescribed in the preceding paragraph falls under the case prescribed in that paragraph and meets either of the following requirements, the provisions of that paragraph may be applied by deeming the phrase "550,000 yen" in item (i) of that paragraph to be replaced with "650,000 yen":

⑤The amount to be deducted pursuant to the provisions of paragraph (3) is deducted from the amount of real estate income or the amount of business income, in that order.

⑥The provisions of paragraph (3) (excluding the case where they are applied, pursuant to the provisions of paragraph (4), to a person who meets the requirement listed in item (ii) of that paragraph) apply only if the tax return contains a statement to the effect that the individual seeks the application of the provisions of paragraph (3) and matters concerning the calculation of the amount to be deducted under the provisions of that paragraph, and has attached to it a balance sheet, a profit and loss statement, and any other written statement concerning the calculation of the amount of real estate income or the amount of business income prepared pursuant to the provisions of Order of the Ministry of Finance based on the books and documents prescribed in that paragraph, and the tax return has been filed by its filing deadline.