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Is agriculuture income
If in Urban Area,City
In a Garden A Person Grow Mangoes Tree & sale out mangoes at Rs.150000/-..is it Agriculture income??ortaxable?
is it mandatory land must be Rural/agriculture??
Solve it!
Replies (1)
It is not material whether it is Rural or Urban agriculture land for the sale proceeds taxation as it is agriculture income and the concern will arise in case of sale of land i.e for capital gain purpose.Therefore above income will be agriculture income and will be exempt as per Income tax act,1961
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