Dear Fellas,
Here is the question.
Is income form advanced agriculture technique like hydroponic taxable for a regular farmer?
The reason to ask this is that, it has been established in the Income tax act itself or vide previous judgements that agriculture is strictly the activity involving the use of land to produce the crop. Now in hydroponic cultivation, the seeds are sawn in media other than soil (sometimes only water is used as media). Everything else is just like regular agriculture, except that land is used only for putting containers, and the cultivation is done in containers.
So, does this qualify as agriculture for income tax exemption?
Mitesh
