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TMI Blogliable to income tax or notX X X X Extracts X X X X X X X X Extracts X X X X ..... Suppose a company engaged in farming are exporting their produces after grading, sorting, preserving and packing - will the income be subjected to Income Tax or is exempted as agricultural income. - Reply By Naveed S - The Reply = Sir, Tthe definition of agricultural income also includes -- Any income accruing to the person by the performance of any process to render the produce marketable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Therefore if, in the ordinary course, a process is to be employed by the cultivator himself or the landlord who receives the produce as rent-in-kind, any income derived from such a process shall be agricultural income. Hence, the process carried out in your case is also covered under definition of agricultural income, however as the process has been carried out a Company and not by the Cultiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ator/Landlord (as discussed in above para), therefore such activity shall not fall under agricultural income. However, the views of various experts on the topic may also please be solicited. - Reply By Naveed S - The Reply = Sir, Please refer to you Personal messages on the issue. Agricultural income is considered for rate purpose while computing tax of Individual/ HUF/AOP/ BOI/Artificial Jud ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icial Person. - liable to income tax or not - Query Started By: - Dalia Felix Dated:- 16-1-2015 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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