firm-agricultural income

if any individual has only agri income it is exempt. and in case of co. it is fully taxable. now it is not taxable inthe case of firm also.

i think agriculture income is not taxable even for companies.....

yes Agri income is taxable in case of company, it will be taxable as business income

Agriculture Income is not taxable to any assessee...

it is taxable if earn by a Company because it's the business

Even I think it is fully exempt and there are no exeptional cases like companies (as being said above)

Whosoever is saying that it is taxable to companies, could you plz guide us with respective section / case laws if any.

Originally posted by : AMIT KUMAR
	it is taxable if earn by a Company because it's the business

Amit,

Agriculture is not business as per income tax act..

A company having only agriculture income vll hv no tax liability coz the whole income will be exempt u/s 10(1) which is applicable to all assessee..

Adarsh

AGRICULTURAL INCOME IS NOT TAXABLE FOR ALL CATEGORY  OF ASSESSEE....

2my knowledge it is exempt from tax under section10...by its very nature it is exempt irrespective of the recepient....however for individuals,huf,aop and boi the concept of aggregation comes into picture...and not for companies and firms

exempt u/s 10 (1) for all assessees............ even for company, firm etc..............

YOU ARE RIGHT TH ECONCEPT OF AGGREGATION DOES NOT APPLY TO COMPANIES ABD FIRMS....

Agiculture income exempt under section 10(1).

 Agriculture income will be exempt for individual, aop, huf, boi, firm and even companies. Agriculture does not include in the term of business according to Income tax Act.

the question has been diverted...i would like to know wat do we mean by it will not be treated as a firm under section 184...can any one help me out with tat sentence