Which are treated as Agriculture Income or Not...!.

Certain income which is treated as Agriculture Income;

(1) Income from sale of replanted trees..!.

(2) Rent received for agricultural land..!

(3) Income from growing flowers and creepers..!.

(4) Share of profit of a partner from a firm engaged in agricultural operations..!.

(5) Interest on capital received by a partner from a firm engaged in agricultural operations..!.

(6) Income derived from sale of seeds.,,!

Certain income which is not treated as Agricultural Income;

(1) Income from poultry farming.

(2) Income from bee hiving.

(3) Income from sale of spontaneously grown trees.

(4) Income from dairy farming.

(5) Purchase of standing crop.

(6) Dividend paid by a company out of its agriculture income.

(7) Income of salt produced by flooding the land with sea water.

(8) Royalty income from mines.

(9) Income from butter and cheese making.

(10) Receipts from TV serial shooting in farm house is not agriculture income.

Certain income which is not treated as Agricultural Income;

(11) Income from Plantation companies..!

 Many plantation companies have launched schemes that offer tax-free agricultural income.

These schemes are of various types: while some give investors leasehold rights to the land, some give rights to trees a certain level above the ground, even as others offer rent.

If the scheme gives rise to ownership or / leasehold interest in the land, then the income is considered to be rent or revenue in the hands of the investor.

In the absence of ownership or  / leasehold rights, income from plantation

companies is either considered interest or non-agricultural income chargeable to tax.

Src: www.8am.in

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