Income from sale of silver oak
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 April 2012
Is Sale proceeds received from sale of silver oak which is shaded tree in coffee estate an agricultural income?
As per latest definition, income from nursery, is agricultural income. Similarly, trees grown out of saplings are also agriucltural activity and sale proceeds received from such sale of trees is agricultural income.
In this background, please inform us whether sale of silver oak, which was grown out of saplings and is shaded tree in coffee estate for last 40-50 years is agricultural income or not.
As per latest definition, income from nursery, is agricultural income. Similarly, trees grown out of saplings are also agriucltural activity and sale proceeds received from such sale of trees is agricultural income.
In this background, please inform us whether sale of silver oak, which was grown out of saplings and is shaded tree in coffee estate for last 40-50 years is agricultural income or not.
28 April 2012
There are to aspects No. 1) Have you planted the shed trees 2) Is shed trees are spontaneous growth? If you have planted then it is agricultural income otherwise not
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Relief u/s Section 89
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- Merchant Export Accounting
- Lease agreement and tax on sale
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
