Taxation of subsidy received by farmers
This query is : Resolved
09 July 2019
Sir/Madam,
Can u plz tell me whether any subsidy received from State Govt by farmers is taxable in the hands of farmers? If yes,under which section and which head?
Can u plz tell me whether any subsidy received from State Govt by farmers is taxable in the hands of farmers? If yes,under which section and which head?
10 July 2019
Subsidy received by farmers will be considered as agricultural income exempt from tax.
10 July 2019
Sir,in that case should it be clubbed with Agricultural income as i'm having other taxable income so that i can calculate rebate on agricultural income
10 July 2019
Yes club it with agricultural income.
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