https://www.taxtmi.com/article/detailed?id=8620 Agricultural income is exempt from central income-tax under a broad statutory definition covering rent, agricultural operations, ancillary processes and farm buildings; however, a partial integration mechanism aggregates agricultural with non-agricultural income for rate purposes when thresholds are met for specified individual and similar entities. Urban agricultural land falls within the capital asset definition and its transfer attracts capital gains tax. Targeted reliefs include exemption for compulsory acquisition of qualifying urban agricultural land and reinvestment relief for individuals and HUFs purchasing replacement agricultural land within the prescribed period. en-us Wed, 17 Jul 2019 07:40:07 +0530 Wed, 17 Jul 2019 07:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8620 Agricultural income is exempt from central income-tax under a broad statutory definition covering rent, agricultural operations, ancillary processes and farm buildings; however, a partial integration mechanism aggregates agricultural with non-agricultural income for rate purposes when thresholds are met for specified individual and similar entities. Urban agricultural land falls within the capital asset definition and its transfer attracts capital gains tax. Targeted reliefs include exemption for compulsory acquisition of qualifying urban agricultural land and reinvestment relief for individuals and HUFs purchasing replacement agricultural land within the prescribed period. Articles Income Tax Wed, 17 Jul 2019 07:40:07 +0530 https://www.taxtmi.com/article/detailed?id=8620