Agricultural income - seed Business

It is not agricultural income.

In order to claim it as agricultural income the following conditions must be satisfied.

1.It must be derived from a land situated in India.

2.It must be derived by performing basic agricultural operations and subsequent operations.

Dear Friends!

What will be the nature of income received from 'nursery' operations alone? Nursery operations do not require putting the seeds to the land and watching them grow. Often, the seedlings are allowed to grow in polythene pockets and all that is enough is to provide some space for keeping the saplings even in the penthouse of a 24 storied apartment. Is it agricultural income?

Do post your response!

Good Bye! Cheers!!

 nature of income received is not only 'nursery' operations but also from Agricultural operations also.

Dear Srinivasa reddy!

But by the amendment made to Section 2(1A) brought into force with effect from 01.04.2009, by the Finance Act, 2008, income derived from saplings or seedlings grown in a nursery is termed to agricultural income.

Interesting indeed!

Good Bye! Cheers!!