Guide to .. Tax Management ,Tax Planning and Tax Saving

7. Illustrations Of Non-Agricultural Incomes [ Assessments of 'AGRICULTURAL INCOME']

  1. Incomes from sale of trees from a forest where no tilling or other basic operations were carried and trees are of spontaneous growth

  2. Income from the sale of wild grass.

  3. Income from sale of gur or refined sugar acquired by using some manufacturing process.

  4. Income from sale of ginned cotton.

  5. Interest received by money-lender in the form of agricultural produce.

  6. Share of agricultural produce received by a person for supply of water.

  7. Remuneration received for managing agricultural farm.

  8. A Zamindar obtains promissory note from a defaulting tenant in respect of arrears of rent due to him, any interest which accrues on such note shall not be agricultural income.

  9. Commission received by the landlord for selling the agricultural produce of his tenants.

  10. Profit from sale or harvest of an agricultural crop, purchased by the assessee as standing crop, may be called as profit from trading operations.

  11. Income from sale of fruits of trees of spontaneous growth is not agricultural income

  12. Any annuity received (from agricultural land exchanged for annuity) is nc agricultural income.

  13. Remuneration received by a person for managing agricultural property is not agricultural income.

  14. Income from fisheries.

  15. Royalty income from mines and brick making.

  16. Interest on arrears of rent of agricultural land.

More Topics on Assesssment ... @ Agricultural Income
Need for Assessment of Agricultural Income
DEFINITION’ Of Agricultural Income
Tests To Determine Agricultural Income
Types Of Agricultural Income
Partly Agricultural and Partly Non-agricultural Income
Illustrations Of Agricultural Incomes
Illustrations Of Non-Agricultural Incomes
Assessment Of Agricultural Income


Get.. Tally.ERP9 Book + GST Practical Assignment @ Rs.550 Tally.ERP9 Book Online Order Tally.ERP9 Book Content
© 2018 : IncomeTaxManagement.Com