CAN ANYONE TELL ME THAT, "SALE OF SANDAL WOOD TREE TO GOVERNMENT, AND RECEIVED AN AMOUNT OF Rs. 105000, IS THIS AMOUNT SHOULD TREATED AS AGRICULTURE INCOME OR TO BE CONSIDERED UNDER ANY OTHER HEADS OF INCOME?"
CONSIDER THE FOLLOWING POINTS ALSO
*TREE WAS NOT GROWN IN AGRICULTURE LAND.
*GROWTH OF TREE WAS NOT SPONTANEOUS
Menu
INCOME FROM SALE OF SANDAL WOOD TREE
Replies (1)
AS THE SALE OF SANDAL WOOD TREE DOES NOT RESULT IN ANY ACTIVITY RELATED TO CULTIVATION, IT CANNOT BE TREATED AS AGRICULTURE INCOME.
Cultivation of land to some extent is necessary for the income to be treated as agricultural income.
REGARDS,
DEVENDRA
Recent Topic
Related Topics
CAclubindia
