AGRI INcome..!!

This query is : Resolved

visu iyer (Querist)
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23 April 2009 Here is a query on AGRI INCOME of Corporate..!!

Please advise the status of AgRI income earned by Corporates...!!

a) If it is exempted.. (the company can convert its unaccounted money showing it as agri income there by claim income exemption)

b) If not, Why should the Department is bias in giving the provisions.

Let us have the coments (from experts please)

Brij Bhushan Sangal

Brij Bhushan Sangal (Expert)
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24 April 2009 agricultural income is exempt for all. shown in exempt income colume and treat as per IT provisions for agri. income.

Ca. Rajesh Dhama

Ca. Rajesh Dhama (Expert)
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24 April 2009 i am agree with mr brij

visu iyer

visu iyer (Querist)
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24 April 2009 Vow.!
The Corporates can
convert the black into white..!!
(showing it as agri income)
or
convert income into loss ..!!
(loss on agri..)

Hats offf!! to Ministry of Finance.