Is Rent Recieved from Nursery agricultural Income?
This query is : Resolved
18 November 2019
As per Explanation 3 to Sec.2(1A), any income derived from saplings or seedlings grown in a nursery is deemed to be agricultural income.
Also, Clause (a) to the said section states that any rent derived from Land which is used for agricultural purposes is agricultural income.
If so, can it be said that Land rent recieved from an nursery is agricultural income?
Also, Clause (a) to the said section states that any rent derived from Land which is used for agricultural purposes is agricultural income.
If so, can it be said that Land rent recieved from an nursery is agricultural income?
18 November 2019
Yes it's agricultural income
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19 November 2019
Yes it's an agricultural income
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