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agricultural income

Tax queries 895 views 3 replies
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Chartered Accountant
26 Points Posted on 20 February 2008

How to treat the compensation received from Reliance Company for cutting our trees on our own land.Whether Agricultural income Or Capital Gain !

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On 20 February 2008 at 11:29 Report
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CA
254 Points Posted on 20 February 2008
HI Its is neither agricultural invome nor capital gain. It is INcome from other Sources. Its not agricultural income cos agricultural activity is not done on the tree. It is grown naturally with span of time. Pls let me know if any information required. Regards Vijay
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On 20 February 2008 at 12:51
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TAX CONSULTANT
369 Points Posted on 20 February 2008
Income arise is nither agriculture income nor capital gain; it is an income from other source.
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On 20 February 2008 at 15:26
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I totally agree with CA Vijay
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On 20 February 2008 at 15:28


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