2 Replies
prasad Nilugal
(3924 Points)
Replied 12 July 2021
Agriculture Income is defined under section 2(1A) of the Income Tax act - Any rent or revenue derived from land which is situated in India and is used for agriculture purpose .
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 12 July 2021
Agricultural income refers to income earned or revenue derived from sources that include farming land, buildings on or identified with an agricultural land and commercial produce from a horticultural land. Agricultural income is defined under section 2(1A) of the Income Tax Act, 1961.
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