AGRICULTURAL INCOME

Agricultural Income related to

• Sec.2(1A)

• Sec.2(A)

• Sec.2(B)

• Sec.3

Central Government does not impose tax on agricultural income

• True

• False

Indian state government have been given power to impose tax on agricultural income

• True

• False

Income derived from transfer of agricultural land will be treated as agricultural income

• True

• False

Agricultural income does not include any income from animal husbandry like breeding and rearing of live -stock dairy farming ,cheese and butter making ,poultry farming.

• True

• False

Income from land used for potteries or as brick field

• Agricultural Income

• Non Agricultural Income

• Partly Agricultural Income

Income from supply of water for irrigational purpose , even when it it used by way of share agricultural produce.

• Agricultural Income

• Non Agricultural income

• Partly agricultural income

Income from mining royalties will be the agricultural income

• True

• False

Income from growing and manufacturing tea in India

• 60% agricultural income

• 65% agricultural income

• 75% agricultural income

• 40 % agricultural income

Income from growing and manufacturing tea in India

• 40% Business Income

• 45% Business Income

• 35% Business Income

• 25% Business Income