Thursday, March 12, 2015

Assessment’ of “Agricultural Income”

[A] ‘Assessment’ of “Agricultural Income

1.         Need for Assessment of Agricultural Income

2.         ‘DEFINITION’ Of Agricultural Income

3.         Tests To Determine Agricultural Income

Test  (A) —Income derived from land

Test (B)—Land is used for agricultural purposes

Test (C)—Land is situated in India

4.         Types Of Agricultural Income

1.         Any income received as rent or revenue from agricultural land

2.         Income derived from Agriculture

3.         Any income accruing to the person by the performance of any process to render the produce marketable

4.         Any income received by the person by the sale of produce raised or received as rent-in-kind

5.         Income from buildings used for agriculture


5.         Partly Agricultural and Partly Non-agricultural Income

1. Rule 7—General Rule [Applicable to all except Tea, Coffee and Rubber]

2. Meaning of ‘Market Value’ [Rule 7(2)].         

3. Rule 7A—Growing and manufacturing of Rubber in India

4. Rule 7B—Growing and manufacturing of coffee in India

a. Case [ I ] .If coffee is grown and cured by seller [Rule 7B(I)]

b. Case [ II ] If coffee is grown, cured, roasted and grinded by the seller with or without mixing chicory or other flavouring ingredients, [Rule 7B(IA)]

5. Rule 8—Growing and manufacturing of Tea in India



6.         Illustrations Of Agricultural Incomes

7.         Illustrations Of Non-Agricultural Incomes

8.         Assessment Of Agricultural Income

What to Integrate?

When to Integrate?

When not to Integrate?

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