agricultural production

The income attributable to the operations of developing/producing breeder seeds or hybrid germplasm or parent hybrid seed containing desired traits cannot be treated as agricultural income and should be treated as business income. Full Article

The expression marketing as occurring in section 80P(2)(a)(iii) , is a comprehensive term; it does not mean merely buying and selling; it includes processing which may be necessary for making the agricultural produce marketable; hence, for the co-operative society with members being growers, the deduction under section 80P(2)(a)(iii) is available even if the agricultural produce is marketed without further processing or even if it is processed with the use of power. Full Article