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AGRICULTURAL INCOME
A PERSON HAS NON AGRICULTURAL LAND ON WHICH HE HAS ACTUALLY CARRIED OUT AGRL OPERATIONS HAS SOLD THE PRODUCE TO WHOLESALE MERCHANTS. ALL DOCUMENTARY PROOF IS AVAILABLE ALONG WITH BANK A/C. CAN THIS BE SHOWN AS AGRL INCOME? UPON SALE OF LAND CAN IT BE CLAIMED AS EXEMPT IF ALL OTHER CONDITIONS ARE SATISFIED?
Replies (2)
Quick Summary
Yes it might be considered as agricultural income
Yes it's an agricultural income , but on sale of land cannot be claim as exempt
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