Coffee plantation-exemption

Mathewpj (Finance executive) (30 Points)

21 September 2011  

Hi,

One of my colleague owns 150acres of coffee plantaion in Hassan District at Karnataka. I want to know whether he is liable to file tax. It's came to know that the whole agricultural income is exempted from income tax. I also want to know in which part of the IT Act is defining aforesaid query.

Waiting for response,...