Is agricultural income taxable?

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

02 July 2010 "The State legislatures alone are competent to tax agricultural income"
I read the following statement in the study material.
I have a doubt..
Is agricultural income taxable?

Shyam Lal Naik

Shyam Lal Naik (Expert)
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02 July 2010 The statement is true. No State Government has levied the tax on agricaltural income.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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02 July 2010
Agricultural Income :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. However while computing tax on non-agricultural income agricultural income is also taken into consideration.

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