Agricultural Income u/s 2(1A)

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Yasmin Salim Shaikh (Querist)
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15 September 2009
If an individual runs nursery and the major income derived is from Letting out the Plants/Saplings in the nursery to Various parties then is it falling under Agricultural Income u/s Sec 2(1A) as amended?

If yes then will it be eligible to be exempt under Sec 10?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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17 September 2009 Yes. the word Any Income in explanation-3 to
this section includes all types of income which an assessee may get from sapplings and seedlings.

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