Significance of agriculture income in p&l schedule in itr 4

Agricultural income is exempted u/s. 2(1A), provided it satisfies the conditions as per the section.

There are many other agricultural activities as follows, which are taxable.

• (a) Income from poultery farming.

  (b)   Income from bee hiving.

  (c)    Income from sale of  spontaneously grown trees.

  (d)   Income from dairy farming.

  (e)    Purchase of standing crop.

  (f)    Dividend paid by a company out of its agriculture income.

  (g)   Income of salt produced by flooding the land with sea water.

  (h)   Royalty income from mines.

  (i)     Income from butter and cheese making.

  (j)     Receipts from TV serial shooting in farm house is not agriculture income

These  agriculture incomes are computed same as business income