Agricultural income definition clarified: income from land or buildings used otherwise than for agriculture is excluded; conditions may be notified. Amendment clarifies that income from any building or land used for any purpose other than agriculture - including letting for residential use or for business or profession - shall not constitute agricultural income; the preexisting Explanation is renumbered and a new Explanation is inserted. The amendment also replaces a cross-reference to enumerated sub-clause conditions with a provision that such conditions may be notified in the Official Gazette by the Central Government.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Agricultural income definition clarified: income from land or buildings used otherwise than for agriculture is excluded; conditions may be notified.
Amendment clarifies that income from any building or land used for any purpose other than agriculture - including letting for residential use or for business or profession - shall not constitute agricultural income; the preexisting Explanation is renumbered and a new Explanation is inserted. The amendment also replaces a cross-reference to enumerated sub-clause conditions with a provision that such conditions may be notified in the Official Gazette by the Central Government.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
