Tax issue and tds
This query is : Resolved
17 July 2014
If I pay rent to a farmer who is having 7/12 agreement then my rent expense will be taxable and rental income for him will be exempt as agricultural income and also I will deduct tds u/s 194C @ 10%
Is this treatment correct?
Also now we will maintain the land so the income generated from it will be exempt? like selling of ayurvedic plants,cashew nuts , rubber etc
Is this treatment correct?
Also now we will maintain the land so the income generated from it will be exempt? like selling of ayurvedic plants,cashew nuts , rubber etc
17 July 2014
rent income is not agricultural income hence it is taxable.
why u want to deduct tds u/s 194C when sec 194I is there in case of rent.
why u want to deduct tds u/s 194C when sec 194I is there in case of rent.
17 July 2014
oops u/s 194I and rental income for farmer on which agriculture operations will be carried out so exempt under income tax act
17 July 2014
such rental income is not agricluture income..refer definition u/s 2(IA).
17 July 2014
and also now I am carrying out agriculture operations on the land which I took on rent from farmer so whatever I sell i.e. plants and other raw materials etc will be exempt for me?
17 July 2014
and also now I am carrying out agriculture operations on the land which I took on rent from farmer so whatever I sell i.e. plants and other raw materials etc will be exempt for me?
17 July 2014
and also now I am carrying out agriculture operations on the land which I took on rent from farmer so whatever I sell i.e. plants and other raw materials etc will be exempt for me?
17 July 2014
and also now I am carrying out agriculture operations on the land which I took on rent from farmer so whatever I sell i.e. plants and other raw materials etc will be exempt for me?
17 July 2014
pls decribe what actually ur carrying out on the agricultural land and waht u selling?
exemption depends on that.
exemption depends on that.
17 July 2014
so what final product is sold out does it fit in agricultral income definition u/s 2(IA) just check it out.
Message likes :
1 times
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
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- GST ISSUE OF INPUT AND OUTPUT GST
- Change Of Karta In Case of Death
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Non filing of I T Returns
- UDIN ISSUE
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
