What is an agricultural income in India?
As per Section 2(1A) of the Income Tax Act, agricultural income can be defined as follows:
(a) Any rent or revenue derived from land which is situated in India and is used for agricultural purposes.
(b) Any income derived from such land by agriculture operations including processing of agricultural produce so as to render it fit for the market or sale of such produce.
(c) Any income attributable to a farm house subject to satisfaction of certain conditions specified in this regard in section 2(1A). Also, any income derived from saplings or seedlings grown in a nursery shall be deemed to be agricultural income.
Bamboo Farming
Bamboo is also known as green gold environment In personal farms bamboo is already shifted in grass category. If you are looking for agriculture income than bamboo farming is the best option. We must tell you that Indian government is eying on bamboo farming and the government has already launched a national bamboo mission in which they are also giving some benefits to farmers and believe me government is ready to launch much more schemes to promote bamboo farming. So this is the right time to enter in the bamboo cultivation.
There are more than 14k species of bamboos in the world, bamboos are known for fast growth and they are considered as fastest growing plants in the world. Bamboo plants have various growing varieties clumping bamboo and running bamboo. Running as the name suggests is the fast growing variety in comparison to clumping verities of bamboo.
Uses of Bamboo:
Bamboo leaves are being used for making electricity
Bamboo plus grain straw is also used to make electricity
Bamboo tree are also used in making Indian currency
Vermicompost = cow dung + bamboo leaves + earthworm + decompose process
Bamboo musical instruments
Bamboo furniture
Bamboo fencing
Pulp and paper
Biomass production
Handicrafts
Construction purposes
Agriculture support material
Vegetable box
National bamboo mission 2021
According to the central government, this mission is a dream mission to replace plastic items from bamboo made items. Let’s first understand the mission