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AGRICULTURE INCOME

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Querist : Anonymous

Querist : Anonymous (Querist)

06 July 2011 SIR,
I WANT TO KNOW THAT RENT RECEIVED FROM LAND USED FOR GAZING OF CATTLE REQUIRED FOR AGRICULTURAL ACTIVITIES IS WHY AGRICULTURE INCOME.
IF I GIVE SOME LAND ON RENT FOR AGRICULTURE PURPOSE IT IS EXEMPT FOR THE TENANT TO WHOM I HAVE GIVEN THE LAND ON RENT.
I AM NOT DOING ANY AGRICULTURE ACTIVITY.
I AM EARNING THE RENT INCOME.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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06 July 2011 Agriculture income has been defined U/s 2(1A) as under -

(a) Any rent or revenue derived from land which is used for agriculture purpose.

So, by virtue of the above provision your rental income is exempt from tax even if
some body else is carrying on agriculture activities.

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