Tax treatment of loss of crop

[Anji Kum]

Hi,

I own some agriculture land and made heavy loss this year. Is there any provision in income tax law of india to exempt this losses from salaried income?

Best,

Anji

AI Summary

Agricultural losses cannot be offset against salaried income due to tax exemptions in Indian income tax law. An individual inquired about the possibility of offsetting agricultural losses against salaried income under Indian income tax law. A respondent explained that since agricultural income is exempt from tax, losses from agriculture cannot be set off against taxable income. Another participant, not specializing in tax law, agreed with this interpretation, citing common knowledge. A third participant suggested that a more detailed query might yield a more precise response but agreed with the previous opinions. The discussion concluded with an invitation for further queries.