Tax on Agriculture investment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 October 2010
Dear Sir,
i invest some of rs. 1,00,000 in emu farming institute which give me return of rs 1,20,000 it was increase by income, this income is taxable to me or not ?
income from investment on Agriculture income get any rebat under any scheme?
please guide me regarding this
thanks & Regards
Nitin
i invest some of rs. 1,00,000 in emu farming institute which give me return of rs 1,20,000 it was increase by income, this income is taxable to me or not ?
income from investment on Agriculture income get any rebat under any scheme?
please guide me regarding this
thanks & Regards
Nitin
20 October 2010
Agricultural income is exempt u/s 10(1).
In your case you have done investment, but not received income from agricultural activities.
Therefore, this income will not be exempt in yours hands. This would be come under Income From Other Sources.
Regards!!!
Dinesh S. Adhikari,
In your case you have done investment, but not received income from agricultural activities.
Therefore, this income will not be exempt in yours hands. This would be come under Income From Other Sources.
Regards!!!
Dinesh S. Adhikari,
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