FM : The Central Government has no plan to impose any tax on agriculture income
Following is the text of the Union Finance Minister Shri Arun Jaitley’s Statement on the subject to impose tax on agriculture income:
“I have read the paragraph in Niti Ayog Report entitled ‘Income tax on agriculture income’. To obviate any confusion on the subject, I categorically state that the Central Government has no plan to impose any tax on agriculture income. As per the Constitutional Allocation of Powers, the Central Government has no jurisdiction to impose tax on agricultural income.”
Also Read– Not recommended to tax Farm Income: NITI Aayog
Source- PIB
