CA KRISHNA KUMAR DARUKA (CHARTERED ACCOUNTANT) (4458 Points)
22 February 2011A farmer keeps his produce in a cold storage so that he can get better price after few months. Whether this increased income can also be claimed as agricultural income.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 22 March 2011
| Originally posted by : CA KRISHNA KUMAR DARUKA | ||
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A farmer keeps his produce in a cold storage so that he can get better price after few months. Whether this increased income can also be claimed as agricultural income. |
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a) the crops are produced by farmer himself on own land, 2) it did not got sold or revlatulated at any stage in between the process of cropping and final sale out from cold storage
if the above two criteria is satisfied than its agricultural income.
CAclubindia
