Direct tax Law 2009 (Solved)


According to Section 2 (1 A) agriculture income means - income which includes the following:
    (i)    any rent or revenue derived from land which is situated in India and used for agricultural purposes;
    (ii)   any income derived from such land by agriculture or from processing of agricultural produce to make it fit for the market;
                (iii)          any income from farm building situated on or in the immediate vicinity of agricultural land and used as (a) dwelling house; (b) store house; or (c) other out building. Further such land should be assessed to land revenue or a local rate. However, if it is not assessed to land revenue or local rate then such land should be situated outside urban area.

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