if I given my agriculture land on lease to somebody and iam geting some amount for it. will this income comes under agriculture income or not.if it comes under agriculture income can i get tax benfit for that leased amount.
plz replay
if I given my agriculture land on lease to somebody and iam geting some amount for it. will this income comes under agriculture income or not.if it comes under agriculture income can i get tax benfit for that leased amount.
plz replay
Dheeraj
(Learner)
(1100 Points)
Replied 04 February 2013
agriculture income includes rent received also but provided lessee is also doing agiculture business
otherwise it will be taxable under head other sources (rent recd. on land)
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
