Exemption claiming on Agriculture Income on Lease Agriculture Land

[PRIYAM KHAMBHATA]

Respected Sir

Mr. A  is  Agriculturist and he is doing Agriculture Activity on Lease agriculture land. Mr. A  is paid Lease Rent to Land owners and also incurred huge Agricultural Expenses. In this situation Mr. A  will going to claim Exemption of Net  Agriculture Income for the year under consideration.  Mr. A  is earned handsome Agriculture Income. Please note that major income is Agriculture Income out of Total income.

Please guide me on above situation. 

Thanks 

AI Summary

Agriculturist can claim tax exemption on net agricultural income from leased land operations despite paying lease rent An agriculturist conducts farming activities on leased agricultural land, paying lease rent to landowners and incurring substantial agricultural expenses. The individual earned significant agricultural income, which constitutes the major portion of total income. The query seeks guidance on claiming exemption for net agricultural income under tax provisions. The discussion involves determining eligibility for agricultural income exemption when farming operations are conducted on leased rather than owned land, considering the payment of lease rent and agricultural expenses incurred during farming activities.