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Taxability of waiver of agriculture loan

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(Querist)
27 September 2015 suppose an agriculture loan sactioned of rs. 500000/-, the farmer is not able to refund it. as per the government scheme , it is waived ,now it is taxable under sec 41,
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Amol S Joglekar

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Amol S Joglekar (Expert)
27 September 2015 No. It is not taxable under section 41.

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