Question ID :
36954
jawaharlal jain
WHETHER CULTIVATION OF VERMICULTURE IS AGRICULTURAL INCOME UNDER THE INCOME TAX ACT 1961?
Posted by
CA. JAIN JAWAHAR LAL
on
Jan 30, 2019
Filed Under
DIRECT TAXES
No. Cultivation of land is necessary for the income to be treated as agricultural income but activities like poultry farming, dairy farming, aquaculture and sericulture on the same land are not treated as agricultural activity. Same analogy can be applied to vermiculture as well.
Posted by
B.CHACKRAPANI WARRIER on
Feb 01, 2019