Agriculture income
This query is : Resolved
15 April 2014
one of my client doing the business of selling fertilizer and cattle feed.will thia income come under the agriculture income or not ?
thanks in advance
thanks in advance
15 April 2014
No. The income can be taxed as the same is business income.
16 April 2014
No.
Agriculture Income Definition - any income rent, revenue directly from land(agri land) (or building on such land used in purpose for cultivation but building should be on land or in immediate vicinity) situated in india & used for agriculture & used by owner or his parents for agriculture or by the person paying rent (i.e, rent to be paid from income generated through cultivating land).
Where As - Selling of Fertilizers & cattel feed is pure trading activity, ofcourse related & helpful for agriculture but is not used but is sold. It comes in Business activity taxable.
Agriculture Income Definition - any income rent, revenue directly from land(agri land) (or building on such land used in purpose for cultivation but building should be on land or in immediate vicinity) situated in india & used for agriculture & used by owner or his parents for agriculture or by the person paying rent (i.e, rent to be paid from income generated through cultivating land).
Where As - Selling of Fertilizers & cattel feed is pure trading activity, ofcourse related & helpful for agriculture but is not used but is sold. It comes in Business activity taxable.
16 April 2014
fertilizer and cattle feed is trading business
income will taxable as business income .
income will taxable as business income .
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- Banking Related Issue
- IT returns for fresh job holders
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- NRI INSURANCE ADVISOR
- Taxability of credit in canara bank ET & T section (NRO)
- Rent claimed on building given on permissive possession basis
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
