Which provisions of the Income-tax Act, 2025 exclude agricultural income from total income?
Question and options
Which provisions of the Income-tax Act, 2025 exclude agricultural income from total income?
Section 11 read with Schedule VII
Section 2(5) read with Schedule II
Section 11 read with Schedule III
Section 11 read with Schedule II
Answer and explanation
Correct answer: D - Section 11 read with Schedule II
Section 11(1) of the Income-tax Act, 2025 excludes income listed in Schedules II to VI, and agricultural income is listed in Schedule II. Schedule III lists income of eligible persons, such as Sikkimese individuals, and Schedule VII lists persons not chargeable at all; section 2(5) only defines agricultural income.
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