What iz da TAX Treatment of income generated by growing Mushrooms............
Is it an agricultural income.........??
or a taxable under Income Tax Act...??
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MUSHROOM FARMING INCOME
Replies (5)
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Since MUSHROOM is a CROP, hence to best of my knowledge INCOME FROM GROWING OF MUSHROOM WILL BE AGRICULTURE INCOME..
agreed with amir
sunil
yes, i should be agriculture income, no doubt abt it
I agree with the above suggestions.
Also i want to add that check the activity in accordance with definition of agricultural income given in sec 10(1). If it satisfies all the conditions then it is agricultural income.
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