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Agriculture income or rental income

DHEERAJ (STUDENT) (26 Points)

11 May 2021

Rent from agriculture land is rental income or agriculture receipts?

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2 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 11 May 2021

Agricultural receipts

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veerendar singh (tax consultant) (3301 Points)
Replied 11 May 2021

Its obviously rentals as you have pointed it out in your query. but if u mean to ask in which head of income would it be falling under, then let me clarify that it would be income from other sources( or simply called other source income). however if your land is in rural area then it would be exempt u/s 10 and it becomes unnecessary to determine which head of income it would fall under.