Question

Agricultural income in Pakistan is assesable for
(A) Resident
(B) Non-ordinarily resident
(C) Non-resident
(D) Not taxable​

Answer 1

Answer:

a

Explanation:

agriculture income in Pakistan is assessable for

Answer 2

Answer:

The correct answer to this question is residents.

Explanation:

Given - Agricultural income in Pakistan.

To Find - Choose the correct option for Agricultural income in Pakistan is assessable.

Agricultural income in Pakistan is assessable for residents.

Individuals or HUFs are the only entities that may claim this benefit. The person or his or her parents must have used the farmland for agricultural purposes for at least two years prior to the date of the land transaction.

Since it is not included in a person's total income, agricultural income is not taxable under Section 10(1) of the Income Tax Act. However, if the sum surpasses Rs 5,000 annually, the state government may impose a tax on agricultural revenue.

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