Agriculture income
This query is : Resolved
20 March 2014
1.Is receipt from sale of trees of spontaneous growth taxable or not??if yes,then under which head??
2.what will be the treatment of agriculture produce used for self consumption??
3.what is the treatment of 'interest on arrears of land revenue received from tenants' under income tax act??
2.what will be the treatment of agriculture produce used for self consumption??
3.what is the treatment of 'interest on arrears of land revenue received from tenants' under income tax act??
20 March 2014
1. for treatment of income from sale of trees please refer http://www.hindu.com/biz/2011/02/21/stories/2011022150021400.htm
2. for self consumption has no taxable nature.
3. if it is in nature revenue of agriculture land, then it should not have any taxable impact. for other sort of land, should be taxable.
2. for self consumption has no taxable nature.
3. if it is in nature revenue of agriculture land, then it should not have any taxable impact. for other sort of land, should be taxable.
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