Agriculture income tax treatment

[Guest]

Dear sir

please tell about provisions, if a individual having leasehold land and have have agriculture income from it, is it taxable or not.when he don't have ownership

[Guest]

The important issue is whether a income is agriculture or not. It does not matter if land is own or taken on lease. Agriculture income is exempt from tax but can be added to the taxable income, subject to certain conditions, for rates purposes.

AI Summary

Agricultural Income from Leasehold Land: Tax Exemption Depends on Income Type, Not Land Ownership Status An individual inquired about the tax treatment of agricultural income derived from leasehold land, questioning its taxability without land ownership. A tax expert clarified that the key factor is whether the income qualifies as agricultural, not the ownership status of the land. Agricultural income is generally exempt from tax but may be included with taxable income for rate determination under certain conditions.