AGRICULTURAL INCOME
This query is : Open
sampad mohanty
(Querist)
04 September 2009
SIR,
A PERSON HAS A NURSERY AND FROM IT HE IS SELLING PLANTS. NOW HE HAS NO ANY OTHER INCOME. WILL THE INCOME FROM THE BUSINESS BE TOTALY EXEMPTED?
A PERSON HAS A NURSERY AND FROM IT HE IS SELLING PLANTS. NOW HE HAS NO ANY OTHER INCOME. WILL THE INCOME FROM THE BUSINESS BE TOTALY EXEMPTED?
Late CA Sampat Jain
(Expert)
04 September 2009
no income tax....it is agricultural income
sampad mohanty
(Querist)
11 September 2009
SIR
THANK YOU FOR YOUR ANSWER, BUT IF THE BUSINESS IS TRADING OF PLANTS THAT IS THE BUSINESSMAN PURCHASING PLATS AND SELLING IT TO CUSTOMERS THEN STILL THEIR IS NO INCOME TAX.
NOW HE IS DOING THE TRADING AS WELL AS CULTIVATING SOME PLANTS WHICH IS RELATED TO LAND THEN IN SUCH SUTIATION STILL THE TOTAL INCOME WILL STILL BE EXEMPTED
THANK YOU FOR YOUR ANSWER, BUT IF THE BUSINESS IS TRADING OF PLANTS THAT IS THE BUSINESSMAN PURCHASING PLATS AND SELLING IT TO CUSTOMERS THEN STILL THEIR IS NO INCOME TAX.
NOW HE IS DOING THE TRADING AS WELL AS CULTIVATING SOME PLANTS WHICH IS RELATED TO LAND THEN IN SUCH SUTIATION STILL THE TOTAL INCOME WILL STILL BE EXEMPTED
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