TaxTMI 
TaxTMI 
TaxTMI 
liable to income tax or not
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....iable to income tax or not<br> Query (Issue) Started By: - Dalia Felix Dated:- 16-1-2015 Last Reply Date:- 28-1-2015 Income Tax<br>Got 2 Replies<br>Income Tax<br>Suppose a company engaged in farming a....
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....re exporting their produces after grading, sorting, preserving and packing - will the income be subjected to Income Tax or is exempted as agricultural income. Reply By Naveed S: The Reply: Sir, Tth....
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....e definition of agricultural income also includes -- Any income accruing to the person by the performance of any process to render the produce marketable. Therefore if, in the ordinary course, a proc....
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....ess is to be employed by the cultivator himself or the landlord who receives the produce as rent-in-kind, any income derived from such a process shall be agricultural income. Hence, the process carri....
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....ed out in your case is also covered under definition of agricultural income, however as the process has been carried out a Company and not by the Cultivator/Landlord (as discussed in above para), ther....
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....efore such activity shall not fall under agricultural income. However, the views of various experts on the topic may also please be solicited. Reply By Naveed S: The Reply: Sir, Please refer to yo....
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....u Personal messages on the issue. Agricultural income is considered for rate purpose while computing tax of Individual/ HUF/AOP/ BOI/Artificial Judicial Person.<br> Discussion Forum - Knowledge Shari....
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....ng ....