What is the Meaning of Agriculture or Agriculture Rent or Agriculture Revenue ?come Tax Act ?


The word “agriculture” is not defined under Income Tax Act. However, it is important to understand the meaning of agriculture because any income associated with agriculture is beyond purview of direct tax . The first exemption under section 10 is that of “agriculture income “. Agriculture comprises within its scope the basic as well as the subsequent operations on agriculture land  described above regardless of the nature of the products raised on the land. These products may be grain or vegetables or fruits.

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