Daily Archives: September 7, 2015

Income from growing mushroom is non agricultural income

Q Whether the income from  growing of mushroom is Agriculture or Non Agricultural Income ? Held The shed in which mushrooms were grown by the assessee, is located within the residential area of Jagadhari which is situated within Municipal limits. Agriculture can be performed only on land and which involve basic operations like tilling of land,… Read More »

Retirement includes resignation in section 10(10AA) and 10(10)(iii)

Retirement includes resignation Q Whether  per the provisions of section 10(10AA)(ii ) (Leave Encashment) and section 10(10)(iii) (Gratuity) the exemption is available only on retirement and not on resignation ? Both “retirement” and “resignation” result in the conclusion of the service career. In fact resignation from service is also one of the modes of retirement… Read More »