Is Agricultural Income taxable in the hands of the company? The Company is the Property Developer and there is no sale of Land during the Financial year.
Menu
Agricultural Income for company
Replies (2)
i think it should be..
as co. can only distribute its profit by the way of dividends
Agricultural income is not taxable. A plain reading of Section 2(1A) and 10(1) will prove this. Even as per the Constitution of India, agriculture falls under the State List and this is the reason that it is not taxable under the Income Tax Act, which is a Central legislation.
Recent Threads
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
- WHERE TO REGISTER UNDER PTRC AND PTEC ACTS ?
- Key Corporate Compliance Requirements for Private
- Gst Non Filling Return Notice
Related Threads
CAclubindia
