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Is this agriculture income?
A manufacturing company has garden, and get proceeds from selling fruits etc. can it be considered as agriculture income.
Replies (6)
Yes it can
Yes it can be considered as Agricultural Income and accordingly you can claim exemption U/s 10(1) of the Income Tax Act 1961.
Thanks a lot.
You are posting this question under GST app so i ma going to answer this question of yours as per CGST Act, 2017
As per section 2(7) of CGST Act, 2017 the term agriculturist considers only INDIVIDUAL/HUF.
So under GST it won't be considered as agriculture income.
As per section 2(7) of CGST Act, 2017 the term agriculturist considers only INDIVIDUAL/HUF.
So under GST it won't be considered as agriculture income.
Then is this taxable in gst? or not.
The above income is not agricultural income, however supply of fruits and vegetables is exempted under CGSTAct,2017. So if you are a registered person supply fruits and vegetables you shall not collect tax (charge gst) i.e. it is not taxable.
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