Hon’ble Supreme Court had elaborately explained what constitute the term agriculture in depth in the case of CIT v. (iii) income derived from building or land used for agricultural operation, in certain cases. (ii) any income derived from such land by agricultural operation including processing and sale of the agricultural produce as rent-in-kind so as to render it fit for the market , (i) any rent or revenue derived from land which is situated in India and is used for agricultural purposes The definition of ‘agricultural income’ under section 2(1A) provides that the following shall constitute agricultural income:
The term “ Agricultural Income“ has been defined u/s 2(1A) of the Act.
One of the main reason for various dispute on Agriculture Income is attribute to the status of EXEMPT INCOME conferred by Income Tax Act vide section 10(1) of the Act. Taxation of AGRICULTURAL INOCME is also one of such contentious issue. On these issues assesse and revenue used to loggerhead each other on various form of Authorities. Watch Nick commenting on Reducing Climate Change with Healthy Soil, at the “Scenario 300: Making Climate Cool” conference, sponsored by Biodiversity for a Livable Climate, on Apin Washington, DC by clicking hereand scrolling to minutes 29:45 - 48:32.Income Tax have various contentious issues despite being one of the oldest Law of the Land. Nick participated in a discussion on how climate change affects agriculture in the region on the Kojo show, WAMU 88.5, Sept. To, and you'll automatically receive our order form.Ĭlick here for photo gallery of past farm tours! Send your name, street address and telephone number
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