banner_ad

Crop Insurance

1851 views 3 replies
I have received 35000 rs. of crop insurance.
what is the tax treatment??
Replies (3)
It is exempt and show it in EI schedule under any other ..
It is EXEMPTED

1. There is no clear explanation with respect to whether crop insurance is taxable or not. 
2. But however the same may not be taxable due to its nature of insurance. Crop insurance covers the loss of farmers due to the failure of their crops. 
3. This again will come under agricultural income and taxing the same might be harsh in the hands of farmers. Hence, even though there is no clear explanation or provision explaining the same. 
4. Keeping the nature of income in mind the same might be exempted. 
Please correct me if the above interpretation has an alternative view. 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details