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Cash payment to farmer

This query is : Resolved 
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(Querist)
26 May 2016 One trader purchased wheat from farmers in cash because the farmer says that they have no bank account. Some time the payment may increase to 2.00 Lac. Please advise whether the cash payment made to farmers is exempt under Income Tax. One more thing whether Rule 114 is applicable in this case.
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Rupesh Jain

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Rupesh Jain (Expert)
26 May 2016 you can pay cash to farmer, there is exemption under income tax act.
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Kanchan Aggarwal

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Kanchan Aggarwal (Querist)
26 May 2016 Thanks sir. what about Form 60 and 61/61A
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Rupesh Jain

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Rupesh Jain (Expert)
26 May 2016 form 60- for person not having PAN.
61 for agriculture income person
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