Tax Agricultural Income
It is surprising that government is hesitant to collect Income Tax on agricultural income. In this connection it is important to note the following points:-
1. The tax on income from Agriculture activity can be levied by State Governments.
2. The provision in Income Tax Act 1961 to exempt Agricultural income from tax is being used by rich farmers consisting of Politicians and Business men to avoid paying income tax by showing a large portion of income from agriculture.
3. The exemption limit of Rs.2,50,000/- for income tax is more than sufficient for poor farmers.
In spite of PM's slogan that "Na khaunga, na khane doonga" in last four years no action is taken on looting of tax money by rich in the name of agriculture. more
1. The tax on income from Agriculture activity can be levied by State Governments.
2. The provision in Income Tax Act 1961 to exempt Agricultural income from tax is being used by rich farmers consisting of Politicians and Business men to avoid paying income tax by showing a large portion of income from agriculture.
3. The exemption limit of Rs.2,50,000/- for income tax is more than sufficient for poor farmers.
In spite of PM's slogan that "Na khaunga, na khane doonga" in last four years no action is taken on looting of tax money by rich in the name of agriculture. more
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Move your ass out of the AC room. Spend atleast one week in a farm. You will know the pathetic condition of 99 percent of the farmers. You r not worried when the petrol price goes up but start protesting when onion price is increased slitly. Better find out the cost of a agri product and it's market price. I am sure you will be surprised. more
Apr 03
Don't generalise. You suggesting punishing all farmers for a deeds of a few! Specifically name the politicians and businessmen avoiding paying income tax by showing large portion of income from agriculture. Or file an RTI. more
Apr 03
Utter nonsensical idea! Sitting before computer winning likes at the cost of the farmers who cannot answer back. All farmers will leave farming get unemployed and then you grow food yourself@ and give them charity and get 50% rebate on tax for charity under 80G! more
Apr 03
No! Keep agricultural income tax free. The real reason the farmers undergo financial distress is the State prohibiting them from direct access to market. They have to sell only through the Agricultural Produce Marketing Corporation which is a State Government body completely controlled by the politicians in the State who are in power. They man these entities with their own people as traders and ensure that the farmer takes what is given as buying price. Tomato sells for Rs 20 per kg. in retail in the city but the farmer who brings his tomatoes to the APMC mandi gets Rs 2 per kg. Tax farmer only if government allows farmer to charge a skimming price the farmer gets from the market. Then feel happy to tax farmers and produce your own crops. more
Apr 03
Even if the Agricultural Income is NOT taxed, but one is made to file the IT returns if the total income is more than the minimum limit for exemption of IT. For example, say the first IT slab is, say, at Rs 2.50 lakhs, and the Income Tax starts getting applied above this income level, then all such assesses must file the tax returns and specify the details of their agricultural income as well as the details of their agricultural land, and then claim taxes. This will highlight the corrupt politicians claiming Rs 4000 Crores income from a small piece of land of 5 Acres, because they will have to explain it, if and when asked by IT department. more
May 21
