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Taxability on Agriculture subsidy
If a person receive agriculture subsidy/crop insurance claim from Govt. whether it is taxable under Income tax or exempt Income. Can we add subsidy rec'd. in net agriculture income or require to show separately in ITR3 pls Reply
Replies (1)
If the subsidy or insurance claims are against any capital loss, its tax free, and should be reported under Schedule 'Exempt Income'
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