Sale of fruits from tree on agricultural land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2013
The assessee owns agri. land and does farming activity. On some part of the land there are few old fruit bearing trees.Whether income from sale of such fruits is exempt from tax.
Thanks
Thanks
CA PARAS BAFNA
(Expert)
23 August 2013
You have to take care of these trees and fruits as well. Protection, water etc is also required. In a nutshell some agriculture operation is required. The income from fruits is agriculture income and such it is exempt.
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