waht is agricultural income in india

Agricultural income is exempted in India. The power to levy tax on agricultural income is with the state government. Central government cannot impose tax on it. For this reason, under section 10 (1) of IT act it has been specifically said that agricultural income will not form part of the total income and as such will be exempted from tax. In the finance act, it has been … [Read more...] about How agricultural income is taxable in India