KAIT Act 4Chapter II · Charge of Agricultural Income Tax

Section 4 · Total Agricultural Income

(1)

Subject to the provisions of this Act, the total agricultural income of the previous year of any person comprises of all agricultural income derived from land situated within the State and received by him within or outside the State, but does not include, -

(a)

any agricultural income derived from land situated outside the State.

(b)

any agricultural income derived by cultivation of paddy, tapioca, plantain, ginger, ragi, pulses, sesamum, vegetable, sweet potato, tubers, sugarcane, jack, mango, pineapple, orchid, or other flowers, vanila, turmeric and guava,

(c)

share income received by a partner from any firm on which tax has been paid by the firm.

(2)

The following income shall be deemed to be agricultural income received in the previous year, namely: -

(i)

any amount received in the previous year from the Indian Coffee Board in respect of Coffee delivered in any year for sale in pool auction, excluding any amount on which tax was levied in any previous year;

(ii)

where an allowance or deduction has been made in the assessment for any year in respect of loss, expenditure or liability incurred by the assessee; and where the assessee has obtained either in cash or in any other manner any amount In respect of such loss, expenditure or some benefit in respect of such liability during the previous year the amount obtained by him or the value of benefit accrued to him;

(iii)

any amount received in the previous year in respect of bad debts written off in any Previous year regarding which deduction under clause (j) of section 5 has been allowed.

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