Agriculture income tax treatment, Income Tax

[vaibhav sharma]

Dear sir

please tell about provisions, if a individual having leasehold land and have have agriculture income from it, is it taxable or not.when he don't have ownership

Posts / Replies

[CA Parveen Gambhir]

The important issue is whether a income is agriculture or not. It does not matter if land is own or taken on lease. Agriculture income is exempt from tax but can be added to the taxable income, subject to certain conditions, for rates purposes.