banner_ad

Taxability of Agricultural Income

This query is : Resolved 
Profile Image

Profile Image

(Querist)
17 November 2010 One of My Client being A Pvt.Ltd Co.is taken Agricultural Land of 50 Biga on lease rent from farmer & carried out agricultural operations thereon and marketing of agricultural products grown on the same land.

Now query is whether income from sale/marketing of said agricultural products to the company is exempt or taxable and if taxable whether it can be claimed lease rent as expenditure against such income which paid to farmer.
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
17 November 2010 The same will be agriculture Income of the Pvt Ltd Co. which is exempt from Tax.

You have to Maintain separate accounts in which you may debot all the relevant expenses including the lease rentals.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details