Hi Can Any one suggest me income from nursery is Agriclutrul income or not? Tax can be charged or not on said income...
The same question asked in ICWAI Dt exam today...
Thanks in advance
2 Replies
Giridhar S Karandikar
(Team Lead)
(7553 Points)
Replied 14 June 2012
the SC in the case of CIT V/s Raja Benoy Kumar Sahas roy held that the basic operations shud be performed to be called as agricultural income. whihc include cultivation of ground, tilling of land, sowing seeds, planting & other similar operations whihc demand expenditure of human labour & skill upon the land itself & further they are directed to make the crop sprout from the land.. If these are not being perforemd then the income can't be termed as agri income. therefore income derived from growing of plants directly in pots cannot be termed as agricultural income. However if the plants are grown as explained above on land & afterwards they are being put into pots then the income can be termed as agricultural income.
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