“If the farmer’s income is $ 25 for …

Persons looking for consumable economy in India and CEO Rajesh Shoukla said that the government should consider imposing taxes on agricultural income reasonably. Speaking at the Indian summit@100, Chocolate said that the government should consider imposing taxes on agricultural income.

“If the farmer’s income is $ 25 for it, where 25 percent is not a farm, I think it is at least the time I think taxes should be imposed reasonably,” said Price Maryland and CEO. These farmers usually have larger lands, access to modern technology and more participating in commercial agriculture.

Chocolate also made it clear that farmers ’income and the entry of the countryside are two different concepts. He also said that for many farmers who earn more than $ 15 per year, the 30-35 percent share of their income comes from non-agricultural activities.

“If you look at farmers, there are farmers who earn less than $ 1 to cde annually. There are approximately 50 farmers for them, and we have estimated them, and they are currently getting $ 15 per year, and the cultivation share in their income by 65 percent means 35 percent of non -agricultural activities.”

At present, agricultural income is generally exempt from income tax in India under Article 10 (1) of the Income Tax Law. However, agricultural income can affect taxes on taxable income, especially if the taxpayer has agricultural and non -agricultural income.

Based on the data from the ICE 360 ° Esrears poll, these wealthy farmers also have investments that exceed agricultural equipment. around 67 per cent of wealthy farmers own two wheels, 29 percent of private cars, and only 28 percent of private tractors, indicating their investments beyond mere basic agricultural equipment.

Moreover, the survey revealed that wealthy farmers control 28 percent of the agricultural sector income, although only 8 percent of agricultural population.

About 45 percent of these farmers also get benefits under the PM-KISAN NIDHI. These wealthy farmers are primarily concentrated in advanced rural areas in Andra Pradesh, Punjab, Kerala, Haryana, Tamil Nadu and Carnataka.