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Home List Manuals Income TaxIncome Tax - Frequently Asked Questions (FAQs)FAQs on agricultural income (Section 2(1A) and Rule 7) This

Income Tax - Frequently Asked Questions (FAQs)

FAQs on agricultural income (Section 2(1A) and Rule 7)

What is the provision of Section 2(1A)(b)(ii)?

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Ans. Any income derived by performing the marketing process by the cultivator is an agricultural income if the following conditions are fulfilled:

a. The process to which the agricultural produce is subjected should be ordinarily employed by a cultivator or receiver of rent-in-kind.

b. The process should be employed to render the produce fit to be taken to market and not for any other purpose.

 

 

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