Income from Agricultural operations

Income  from Agricultural Operations

1. Agriculture (Sale of Agricultural Produce)
2. Income from any activity which is normally employed to make product fit to market (Like storing goods in sacks)
3. Sale of goods by cultivator/receiver of rent in kind on which only marketing process undertaken as per (2)

INCOME OF LANDLORD CAN ALSO BE FROM AGRICULTURAL OPERATIONS

  QUESTIONS

Q1

Mr A grows rice in his farm and sells it in Market for Rs 40000

Q2.

Mr A gives contract to Mr B for packing rice in sacks,How is B’s income taxable.

Q3

Mr A sells packed sacks of rice in Market