Agri income

Direct Taxation

Income from agricultural land in Nepal , received there and brought to India is taxable for Resident ordinary Resident?If so,why? Any income from agricultural land is exempt right?

Shankari C

CA Inter

★ 12K+

17-Sep-22 14:22

692

Answers (3)

Best Answer

The land used for agricultural purpose should be situated in India. Section 10(1) says "agricultural income" is exempt. >But what is agricultural income? It is defined in Section 2(IA). It is income from land situated in India and used for agricultural purposes.

Seemran Singh

CA Final

★ 4K+

17-Sep-22 14:44

Cause agriculture land should be situated in India then income frm it shall be exempt

Thanusha Lakshmi

CA Final

★ 3K+

17-Sep-22 15:15

Thanks a ton

Thread Starter

Shankari C

CA Inter

★ 12K+

17-Sep-22 17:39