Question

what do you mean by agricultural income ? what are it's kinds ?​

Answer 1

Answer:

Agricultural income refers to income earned or revenue derived from sources that include farming land, buildings on or identified with an agricultural land and commercial produce from a horticultural land. Agricultural income is defined under section 2(1A) of the Income Tax Act, 1961.

Answer 2

Answer:

Agricultural income refers to income earned or revenue derived from sources that include farming land, buildings on or identified with an agricultural land and commercial produce from a horticultural land. Agricultural income is defined under section 2(1A) of the Income Tax Act, 1961.

Types Of Agricultural Income

1. Any income received as rent or revenue from agricultural land

2. Income derived from Agriculture

3. Any income accruing to the person by the performance of any process to render the produce marketable

4. Any income received by the person by the sale of produce raised or received as rent-in-kind

5. Income from buildings used for agriculture