RENT RECEIVED FROM AGRICULTURE LAND

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Rent received from agricultural land is generally considered taxable unless the land is used for agricultural purposes by the tenant. In such cases, it may be treated as exempt agricultural income. If the land is not used for agriculture, the rent is taxable under the head 'Income from Other Sources'. Furthermore, renting land for agriculture, forestry, fishing, or animal husbandry is exempt from GST.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)
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02 November 2022 Whether rent received from agriculture land is taxable or not ? Deductor has deducted TDS on rent paid.

If not, then is it considered as agriculture income as exempt income under the head other sources?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 November 2022 * Agricultural income ,if tenant used the land for agricultural purposes.

* If not, rent is taxable to be offered under the head IFOS.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)
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02 November 2022 Whether the assesee is liable for GST for the rent ?