Income from sale of agriculture produce on diverted land will be taxable or exempt?
What is the tax treatment in case of horticulture?
Menu
Agriculture income
Replies (4)
What do you mean by diverted land??
The land is not agricultural land. Diverted for any other purpose, say residential.
Practicly it will not be consider as agricultural land .And Assessing officer will demand Tahesildar report when agreement does not show it's as agricultural Land.
By ur statement "the land is not agricultural land" i hope you have said that after satisfying the conditions for a land to be considered as an agriculatural land. So you are referring to an urban land used for both residential as well as agriculatural purposes. Since it is an urban land, sale of agriculatural produce will not be treated as agricultural income which in turn implies that it is taxable.
Kindly correct me if i am wrong.
Recent Topic
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
- Shift of Place of Business from one state to anoth
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
Related Topics
CAclubindia
