Agricultural income

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AKSHAY KHAMAR (Querist)
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20 November 2014 Plzzzz can any one guide me about how the taxtreatment will be applied for the agricultural income by way of production or by income from lending the land.
Thanks in advance

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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20 November 2014 its only as per defination of agricultural income under sec 2 clause IA of income tax act.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 November 2014 Both will be treated as agricultural income and exempted from income tax but will be added(added for rate purpose) to other taxable income to determine the tax on the taxable income.

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