Income frm xport of agriculture crop of some medicine product as aleovera & musli is exempted or not, Income Tax

[ramesh bohra]

we have agriculture land 100 hector we are getting crop of some medicine product as aleovera and musli which we get crop and we export it we get income of that rs 100000/ que1. the above income is exempted or not

Posts / Replies

[Surender Gupta]

Whether your income is agriculture income or business income is to be determined first. The agriculture income is exempt from income tax. Business income is taxable. As such the export benefits are limited only to specific purposes else export benefits have been withdrawn from Income tax like 80HHC.