Agriculture income covers income earned from farming or horticulture land.
Agriculture income u/s 10(1) includes:
- Revenue or rent got from agricultural land situated in India
- Income from agricultural land from:
- Agricultural activities
- Cultivation or rent received from activity that results in the agricultural produce that is fit to be taken to the market
- Sale of such agricultural products
- Income from a farm building used for agricultural activity. This income building should be:
- in the immediate vicinity of the agricultural land
- the building is used as a house to stay or as a storehouse
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