Agricultural income

Question

Agricultural income

22 Apr 2024

Answer :

Word Count : 266

Agricultural income refers to the earnings derived from agricultural operations, including cultivation of land, farming activities, livestock rearing, and any other agricultural practices. In many tax jurisdictions, agricultural income enjoys preferential treatment or complete exemption from income tax.

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		RS
1	Interest received on 7% bonds of UP Govt.	5,000
2	Income from house property	24,000
3	Dividend received on preference shares of Indian company	10,000
4	LTC Loss (Related to the year 2019-20)	7,000
5	LTC Gain	5,000
6	STC Gain	6,000
7	STC Loss	2,000