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Agricultural Income

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11 September 2010 why agricultural income is exempt???
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
11 September 2010 Agriculture income is exempt under the Indian Income Tax Act. This means that income earned from agricultural operations is not taxed.

The reason for exemption of agriculture income from Central Taxation is that the Constitution gives exclusive power to make laws with respect to taxes on agricultural income to the State Legislature
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