Which of the following incomes is generally not taxable? Answer areaIncome tax Capital gain Agricultural incomeBusiness and Professional
Question
Which of the following incomes is generally not taxable? Answer areaIncome tax Capital gain Agricultural incomeBusiness and Professional
Solution
Agricultural income is generally not taxable. This is because under Section 10(1) of the Income Tax Act, agricultural income is exempted from taxation. However, it's important to note that this is subject to certain conditions and may vary depending on the country's specific tax laws. Always consult with a tax professional or advisor for accurate information.
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