Question on rose farming

This query is : Resolved

Adarsh (Querist)
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04 July 2008 If anyone is doin farmin of rose flower than incme generated from it is agriculture incme or business income???

please give me the ansewer with section and proof

Taxguy

Taxguy (Expert)
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05 July 2008 It is agriculture income, if it is done by individual who is an agriculturist under the state act.

If you grow the roses on own land it is agriculture, if you hire land and do it, it can be adventure in nature of trade.

If it is done in partnership firm or company it is a business income.

Section 2( 1A)