Tax Treatment of Agricultural Income Under Income Tax Law

Tax Treatment of Agricultural Income Under Income Tax Law As Amended by The Finance (No.2) Act, 2024

This edition of Tax Treatment of Agricultural Income by Ram Dutt Sharma, published by Commercial Law Publishers (India) Pvt. Ltd., provides a comprehensive guide on the assessment and taxation aspects of agricultural income under the Income Tax Law, incorporating all amendments made by The Finance (No. 2) Act, 2024.

The book covers special features about assessment relating to agricultural income, including sale of agricultural land, making it an invaluable reference for tax professionals, agricultural landowners, and legal practitioners.

Key features include:

• Detailed explanation of provisions relating to agricultural income under the Income Tax Act

• Rules and conditions for exemption of agricultural income

• Treatment of income from the sale of agricultural land

• Judicial pronouncements and case law references for better interpretation

• Practical guidance on mixed income computation where both agricultural and non-agricultural income exist

• Specimen formats and calculation illustrations for practical application

This edition is essential for:

• Chartered Accountants, Advocates, and Tax Consultants

• Farmers, agricultural entrepreneurs, and rural landowners

• Corporate tax planners with agricultural income sources

• Income-tax department officers and trainees

With updated legislative amendments, case laws, and practical tools, this edition offers clear insights for accurate compliance and effective tax planning in matters relating to agricultural income.