Rent or Revenue Derived from Land

Any Rent or revenue derived from land situated in India and used for agricultural purpose is Agricultural Income

All the following conditions must be satisfied

1. Rent or Revenue Income Earned in cash or kind
2. Income is earned from Land and not other assets
3. Land must be situated in India
4. Land must be used for Agricultural Operations by tenant

WHETHER RENT/REVENUE AGRICULTURAL INCOME?

 Question

State whether Agricultural income Exempt

Q1

Mr A owns an agricultural land in India. He gives it on Rent to B @10000 pm. Mr B uses the land for agricultural purpose?