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agricultural income

Kintu (Chartered Accountant) (26 Points)

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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Vijay (CA) (254 Points)
Replied 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

Ashish Ranpara (TAX CONSULTANT) (369 Points)
Replied 20 February 2008

Income arise is nither agriculture income nor capital gain; it is an income from other source.

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I totally agree with CA Vijay

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