Rent or Revenue Derived from Land

Last updated at April 16, 2024 by

  

Any Rent or revenue derived from land situated in India and used for agricultural purpose is Agricultural Income

 

All the following conditions must be satisfied

  1. Rent or Revenue Income Earned in cash or kind
  2. Income is earned from Land and not other assets
  3. Land must be situated in India
  4. Land must be used for Agricultural Operations by tenant

 

  Rent or Revenue Derived from Land - What is Agricultural Income



 

 

 

WHETHER RENT/REVENUE AGRICULTURAL INCOME? TAXABILITY.png

 
 
 
 

 Question

State whether Agricultural income Exempt

Q1

Mr A owns an agricultural land in India. He gives it on Rent to B @10000 pm. Mr B uses the land for agricultural purpose?

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.