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<p style="text-align:justify"><em>Farmers may have to pay 18% GST on the income earned through corporate farming, which the new laws are expected to promote.</em></p>
<p style="text-align:justify">Like a retro Bollywood movie with multiple double acts and plot twists, the controversy surrounding the three farm laws is not just limited to the specific legislations per se, but there is more to it, much more sinister. When the Income Tax Act, 1995 (ITA) and Central Goods and Services Tax Act, 2017 (CGST) are read in conjunction with the new farm laws, the sinister plot begins to unravel.</p>
<p style="text-align:justify">As per Section 2 (1A) in the ITA, agricultural income means any rent or revenue derived from land located in India, including rent on agricultural land and buildings, and is tax-exempt. The Supreme Court’s decision in the Commissioner of Income Tax vs Raja Benoy Roy (1957) case also defines agricultural income.</p>
<p style="text-align:justify">To qualify, it is essential to have two types of operations on the land, basic and subsequent. Basic operations include our classic understanding of agriculture of cultivation, tilling, sowing, planting, etc., and demands labour and skill to make the crop sprout.</p>
<p style="text-align:justify">Please <a href="https://thewire.in/agriculture/how-could-the-new-farm-laws-bring-agricultural-income-under-the-tax-net">click here</a> to read more.</p>
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LATEST NEWS UPDATES | How Could the New Farm Laws Bring Agricultural Income Under the Tax Net? -Jaimal Shergill </title>
<meta name="description" content="-TheWire.in
Farmers may have to pay 18% GST on the income earned through corporate farming, which the new laws are expected to promote.
Like a retro Bollywood movie with multiple double acts and plot twists, the controversy surrounding the three farm laws..."/>
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Farmers may have to pay 18% GST on the income earned through corporate farming, which the new laws are expected to promote.
Like a retro Bollywood movie with multiple double acts and plot twists, the controversy surrounding the three farm laws..." />
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<br><small>January 30, 2021</small>
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Farmers may have to pay 18% GST on the income earned through corporate farming, which the new laws are expected to promote.
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<br><small>January 30, 2021</small>
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<br><small>January 30, 2021</small>
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India is working on a multi-pronged strategy to reduce this reliance.
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<br><small>January 30, 2021</small>
<p style="padding-top: 6px;">-The Hindu
Alarming inequality, failing health care and border tensions loom large and the economic situation needs full attention
As the country prepares to enter a new financial year after an ominous and gloomy 2020-21, there are great expectations about green shoots and the shape of the...</p>
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<br><small>January 30, 2021</small>
<p style="padding-top: 6px;">-The Hindu
New guidelines to banks on Foreign Contribution (Regulation) Act rules.
The Ministry of Home Affairs (MHA) has laid down a charter for banks which says that “donations received in Indian rupees” by non-governmental organisations (NGOs) and associations from “any foreign source even if that source...</p>
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LATEST NEWS UPDATES | How Could the New Farm Laws Bring Agricultural Income Under the Tax Net? -Jaimal Shergill </title>
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<br><small>January 30, 2021</small>
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Farmers may have to pay 18% GST on the income earned through corporate farming, which the new laws are expected to promote.
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<br><small>January 30, 2021</small>
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Alarming inequality, failing health care and border tensions loom large and the economic situation needs full attention
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<br><small>January 30, 2021</small>
<p style="padding-top: 6px;">-The Hindu
New guidelines to banks on Foreign Contribution (Regulation) Act rules.
The Ministry of Home Affairs (MHA) has laid down a charter for banks which says that “donations received in Indian rupees” by non-governmental organisations (NGOs) and associations from “any foreign source even if that source...</p>
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LATEST NEWS UPDATES | How Could the New Farm Laws Bring Agricultural Income Under the Tax Net? -Jaimal Shergill </title>
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<br><small>January 30, 2021</small>
<p style="padding-top: 6px;">-The Hindu
New guidelines to banks on Foreign Contribution (Regulation) Act rules.
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LATEST NEWS UPDATES | How Could the New Farm Laws Bring Agricultural Income Under the Tax Net? -Jaimal Shergill
-TheWire.in
Farmers may have to pay 18% GST on the income earned through corporate farming, which the new laws are expected to promote.
Like a retro Bollywood movie with multiple double acts and plot twists, the controversy surrounding the three farm laws is not just limited to...
-Livemint.com
The Survey expects the Indian economy to grow by 11% in real terms (adjusted for inflation) during 2021-22. This is close to the growth of 11.5% forecast by the International Monetary Fund (IMF). This is good news.
The Economic Survey of 2020-21 was published earlier in...
-The Hindu
India is working on a multi-pronged strategy to reduce this reliance.
China still remains the largest source of critical imports for India, from mobile phone components to pharmaceutical ingredients, and India is working on a multi-pronged strategy to reduce this reliance, which is a bigger...
-The Hindu
Alarming inequality, failing health care and border tensions loom large and the economic situation needs full attention
As the country prepares to enter a new financial year after an ominous and gloomy 2020-21, there are great expectations about green shoots and the shape of the...
-The Hindu
New guidelines to banks on Foreign Contribution (Regulation) Act rules.
The Ministry of Home Affairs (MHA) has laid down a charter for banks which says that “donations received in Indian rupees” by non-governmental organisations (NGOs) and associations from “any foreign source even if that source...
