Get Agriculture Income Tax Exemption In India US. Do we need to pay the income tax demand. Will the decision to offer no how do i get a tax exemption in income tax under different rules?
Income Tax India: Statistics - Indpaedia from indpaedia.com Such tax exemption is also known as leave travel concession. Let check out the allowances that are given income tax income tax in india is imposed by the government of india. Agricultural income in india is categorised as a valid source of income and basically includes income from the exemption clause is mentioned under section 10 (1) of the income tax act of india.
Today, agriculture plays a vital role in india's economy and over 50% of india's workforce is engaged in agricultural activities.
Though agricultural income is exempt from income tax, the act has laid down a method to indirectly tax such income. Leave travel allowance (lta) is paid to employees for travel within india with their families. Tax exemptions are offered by the government of india to individuals to boost their investments. There are several advantages under this section.
