![]() ![]() Any sum received by a Co-parcener from Hindu Undivided Family (H.U.F.) Īs per section 10(2), amount received out of family income, or in case of impartible estate, amount received out of income of family estate by any member of such HUF is exempt from tax.Įxample-1. Any income derived from saplings or seedlings grown in a nursery shall be deemed to be agricultural income.Ģ. ![]() As per section 2(1A), agricultural income generally means:Īny rent or revenue derived from land which is situated in India and is used for agricultural purposes.Īny income derived from such land by agriculture operations including processing of agricultural produce so as to render it fit for the market or sale of such produce.Īny income attributable to a farm house subject to satisfaction of certain conditions specified in this regard in section 2(1A). ![]() Agricultural income is defined under section 2(1A) of the Income-tax Act. List of Exempted Incomes (Tax-Free) Under Section-10Īs per section 10(1), agricultural income earned by the taxpayer in India is exempt from tax. ![]()
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