Law and Procedure an e-book | ||
Home |
||
Income Tax - Frequently Asked Questions (FAQs) |
||
FAQs on agricultural income (Section 2(1A) and Rule 7) |
||
|
||
When can income derived from the land be treated as agricultural income under Section 2(1A)(a)? |
||
Ans. Income derived from land can be termed agricultural income if the following conditions are satisfied: a. Rent or revenue should be derived from the land; b. Land should be situated in India; and c. Land should be used for agricultural purposes. |
||