is partnership firm liable to pay tax on agricultural income ?
if yes . then at what rate ?
( partial integration is not applicable on partnership firm )
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Agricultural income
Replies (5)
No a Partnership firm is not required to pay tax on agricultural income
yes partial integation is not applicable
Hi Rohit
Under section 10(1) , agriculture income is exempt.
Partial Integration is applicable only in case of Individual and HUF. So in case of Ind/HUF , agriculture income is considered for integration.
So in case of firm, neither the agricultural income will be taxable nor it will be partially integrated with other income of the firm.
agreed with the same, agriculture income is exempt
Agree with above replies.... Agriculture income will be Exempted....
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