Agriculture Income

151 views 3 replies
If partnership's agriculture income shall be treated as a agriculture income if one of the 3 partner is only Farmer??
Replies (3)
is the firm engaged in agricultural production
as per section 10(1) agriculture income is exempt but as per section 2(31) person include individual , firms, huf etc...therefore firm is treated as a seperate person...if firm is engaged in a agricultural business than only it will be treated as agricultural income
yes firm is engaged in the agriculture income


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register