This is not agriculture income as per Income Tax Act. Agriculture income is that income which is derived by doing some type of agricultural activity like sowing, tilling etc. Here the activity is merely purchasing and selling. Hence its not agricultural income.

for an income to be exempted under the head "Agriculture Income"

it is necessary that both

- primary as well as

- secondary operations are carried by the assessee in order to earn the same..

Taxes should be low on every type of business. Agriculture income is low in respect to the other.

Term Papers

this is not agricultural income as no agricultural activity has been done...it is mere purchase nd sale........

it's not agricultural income..as that farmer does not perform any agricultural activities..

That is not an agricultural income

As per provisions of Income Tax Act, Agricultural income is one which is derived by doing some kinda og agricultural activity