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House of Growth | Finance & Money
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Did
you
know
that
farmers
with
even
1
crore
income
pay
0
Tax?
Agricultural
income
is
exempt
from
income
tax
in
India
under
Section
10(1)
of
the
Income
Tax
Act,
1961.
This
means
that
there
is
no
tax
on
agricultural
income,
regardless
of
the
amount.
However,
if
an
individual
has
both
agricultural
and
non-agricultural
income,
the
agricultural
income
is
taken
into
account
for
determining
the
tax
rate
on
the
non-agricultural
income.
.
.
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