Certain income which is treated as Agriculture Income
- Income from sale of replanted trees.
- Rent received for agricultural land.
- Income from growing flowers and creepers.
- Share of profit of a partner from a firm engaged in agricultural operations.
- Interest on capital received by a partner from a firm engaged in agricultural operations.
- Income derived from sale of seeds.
Certain income which is not treated as Agricultural Income
- Income from poultery farming.
- Income from bee hiving.
- Income from sale of spontaneously grown trees.
- Income from dairy farming.
- Purchase of standing crop.
- Dividend paid by a company out of its agriculture income.
- Income of salt produced by flooding the land with sea water.
- Royalty income from mines.
- Income from butter and cheese making.
- Receipts from TV serial shooting in farm house is not agriculture income.
When you have more than Rs 5,000 from Agri income and Rs 2L(most of us) or 2.5L(above…
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