agriculture income

998 views 5 replies

can any clear the blow mention situatuins relation to agri income.

1. 'X' has agricultural land situated in india he give the same land to 'Y' on rent for agriculture purpose.'y' does all the basic and Subsequent operation and sells in the market.
hence can 'X'(for Rent) and 'Y" (for income) both claim their income as agriculture income.

2. 'Z' works in the land of 'X' under 'y' on wages and involve in agricutural activity, wages what he received is exceed the exemption limit. Can 'Z' is also claim his wages as agriculture income.

Replies (5)

I also have the same doubt. can anyone help me?

 

by

 

Deva

 

In the first case the incomes of X and Y are treated as agricultural income and are entitiled for exemption.

In the second case his income is taxable under the head income from salary.

thanks for your reply

i m member


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