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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

 

 Rent or Revenue Derived from Land - What is Agricultural Income



 

 

 

WHETHER RENT/REVENUE AGRICULTURAL INCOME?TAXABILITY.png

 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?

View Answer
  1. Income Tax
  2. Agricultural Income
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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