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As per CBDT, cash sales of the agricultural produce by its cultivator to the trader for less than _________ can be exempted from tax under the Income Tax Act.

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As per CBDT, cash sales of the agricultural produce by its cultivator to the trader for less than _________ can be exempted from tax under the Income Tax Act.
1). 1 lakh a day
2). 4 lakh a day
3). 5 lakh a day
4). 6 lakh a day


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Answered by on | Votes 1 |
According to CBDT, any cash sale under amount of Rs 2 lakh by a cultivator of agricultural produce is exempted from tax under section 269ST in the Income Tax Act.

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