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Ronit , People with knowledge are celebrities Dec, 05 2016

Why isn't farmers income taxable?



If the farmer is making large cash deposits derived from non-farm sources but masked as farm income shouldnt it be rechecked? Will the partial demonetisation and consequent scrutiny of high value bank deposits bring the Indian farmer under the tax net?

So far, successive governments have resisted any move to tax farmer’s income. But all this should change

If the farmer is making large cash deposits derived from non-farm sources but masked as farm income shouldnt it be rechecked? Will the partial demonetisation and consequent scrutiny of high value bank deposits bring the Indian farmer under the tax net?So far, successive governments have resisted any move to tax farmer’s income. But all this should change

Nupur Agrawal , On a spiritual journey of solitude. Dec, 05 2016


I never knew this. Thanks for the info.

Also I googled and found more details about it, for anyone who wants to know more about it:

As per Income Tax Act income earned from any of the under given three sources meant Agricultural Income;

(i) Any rent received from land which is used for agricultural purpose.

(ii) Any income derived from such land by agricultural operations including processing of agricultural produce, raised or received as rent in kind so as to render it fit for the market, or sale of such produce.

(iii) Income attributable to a farm house subject to the condition that building is situated on or in the immediate vicinity of the land and is used as a dwelling house, store house etc.

I never knew this. Thanks for the info.Also I googled and found more details about it, for anyone who wants to know more about it:As per Income Tax Act income earned from any of the under given three sources meant Agricultural Income; (i) Any rent received from land which is used for agricultu