Agricultural Income
This query is : Resolved
Neha Patial
(Querist)
11 September 2010
why agricultural income is exempt???
11 September 2010
Agriculture income is exempt under the Indian Income Tax Act. This means that income earned from agricultural operations is not taxed.
The reason for exemption of agriculture income from Central Taxation is that the Constitution gives exclusive power to make laws with respect to taxes on agricultural income to the State Legislature
The reason for exemption of agriculture income from Central Taxation is that the Constitution gives exclusive power to make laws with respect to taxes on agricultural income to the State Legislature
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