Commerce Short Question | Gkseries

Question

Which one of the following is agricultural income under the Income Tax Act, 1961 ?

A Interest on arrears of rent in respect of agricultural land
B Interest received by a money-lender in the form of agricultural produce.
C Income from sale of trees of forest which are of spontaneous growth and in relation to which forestry operations alone are performed
D Interest on capital received by a partner from the firm engaged in agricultural operations

Answer & Explanation

Answer:Interest on capital received by a partner from the firm engaged in agricultural operations

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