Discussion :: Indian Economy - Indian Economy (Q.No.35)
|Pushpam said: (Aug 11, 2010)|
|there is no tax on agricultural income.|
|Kuntal Vyas said: (May 1, 2011)|
|Yes,because in India it is non taxable|
|Nehalshah said: (Oct 4, 2011)|
|There is no tax on agricultural income, so d answer is right.|
|Ritu said: (Feb 2, 2012)|
|Indian agricultural income is fully tax free in India.|
|Rohit said: (May 24, 2012)|
|What is expenditure tax? how it is levied?|
|Vinod Thakur said: (Feb 9, 2013)|
|In India agriculture is not considered as commercial activity, it is considered as activity of subsistence from hundreds of years. Other areas such as entertainment, expenditure, and land revenue can be seen as business activities for purpose of profit making. This is the main reason for being exclusion of agricultural revenue out side taxation.|
|Kunal Malhotra said: (Jun 11, 2013)|
|According to Income Tax Act the powers to levied tax on agriculture income having in hands of State government instead of central government. But in our country no tax is levied on agriculture income due to promoting its main income of country and to reduce tax burden from the Indian farmer.|
|Deepthy said: (Mar 29, 2014)|
|I've learned in the subject income tax that even though agricultural income earned and received in India is exempted, it have to be calculated, and when the assessee's income is below the tax slab, he is tax free then agri. Income is added back to the income of the assessee for tax calculation. I don't know what is actually doing.|
|Shadab said: (Mar 1, 2015)|
|In my information, it is taxable if it earning more than 25k.|
|Prashant said: (Mar 27, 2015)|
|Does the expenditure tax goes to central govt or state govt.|
|Dnyaneshwar Male said: (Apr 17, 2015)|
|I think D is right answer because in India agriculture is free sector it is not taxable.|
|Prabhu said: (May 9, 2015)|
|How we can surely say that agriculture is the answer why don't "entertainment" a suitable answer for is question.|
|Pinky said: (May 23, 2016)|
|Hi, Please read the question carefully.
Except agriculture, other options are a source for govt to raise the revenue.
|Dnyanu Male said: (Jul 4, 2016)|
|Expenditure tax completely abolished in 1986 how it will give revenue to state I think expenditure tax is the right answer. Because the state government allowed to take the tax on age but the government didn't get revenue from it but our legislation gave right to stat to levied agree on tax and ern income from it.
So currently there is no provision of expenditure tax this abolished in 1986. So right answer is expenditure tax.
|Pardeep Kaur said: (Jan 22, 2018)|
|I think land revenue is the source for state revenue or maybe entertainment tax.|
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