Dear sir.
I wanted to know whether the income from a plant tissue culture laboratory comes under Agriculture Income. If yes ,which clause it comes in income tax act/rules. please provide all details.
Thanking you
B S C PRASAD
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Income tax on tissue culture
Replies (5)
Dear Prasad
yes it comes under agriculture income itself
Income from sale of plant saplings is Tax-free. Read budget speech last year of FM goi
Explanation 3 of Sec 2 (1A) Any income derived from Saplings or seedlings grown in a NURSERY is deemed to be aggricultue income.
A nursery may own a laboratory.
It should be exempt but lets see what others say.
thank u for your information
Dear rajesh.
Thank you for you information let me known some more detail.
Ya sure brother ...
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