| Comments |
| Posted By : ESWARA RAO |
20-Jan-2017, 05:46:16 |
| As per the income tax Act , Some measure of cultivation is necessary for land to have been used for agricultural purposes. The ambit of agriculture covers all land produce like grain, fruits, tea, coffee, spices, commercial crops, plantations, groves, and grasslands. However, the breeding of livestock, aqua culture, dairy farming, and poultry farming on agricultural land cannot be construed as agricultural operations.
So income from cow milk cannot be considered as Agriculture and the same is to be treated as business income |
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