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.
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Leased agriculture land income
Replies (2)
it depends upon use by lessee.
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)
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