Non-taxability of agricultural income
In India, agricultural income is not taxable because it is considered as a primary source of income for many rural households and farmers. The government encourages agriculture and farming as it contributes significantly to the country’s economy that’s why it comes under non-taxability of agricultural income.
To visit: https://www.incometax.gov.in
Taxing agricultural income could lead to adverse effects on the rural economy as it may discourage farmers from continuing agricultural activities. Moreover, determining the exact amount of agricultural income and taxing it could be difficult, as most agricultural activities are carried out on a small scale, and the income earned may vary significantly from year to year.
Therefore, under the Income Tax Act, agricultural income is exempt from tax. However, if an individual earns any other type of income along with agricultural income, then they require to pay tax on the non-agricultural income as per the applicable tax rates.
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