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Agriculture income recvd by co.

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Querist : Anonymous

Querist : Anonymous (Querist)

06 July 2013 Whether agriculture income received by co. Is exempt..off so please clarify with relevant section.

Prakash Kochar

Prakash Kochar (Expert)
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09 July 2013 Agri. incomne is not taxable under I. Tax Act, but for rate / slab purpose it is to be consider for calculating tax.
This prov. is applicable to individuals and HUF, to which paragraph A of partI of first schedule applies. Not applicable to Co.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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09 July 2013 agree with the expert.

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