Section 10(1) → Section 12
Exemption - Agricultural Income
Quick Answer
Section 10(1) of the Income Tax Act, 1961 (Exemption - Agricultural Income) corresponds to Section 12 of the Income-tax Act, 2025, effective 1st April 2026. Status: Retained.
What changed for Section 10(1)
Section 10(1) of the 1961 Act sets out the rules on exemption - agricultural income. Complete exemption of agricultural income from total income.
From 1st April 2026, the same subject sits at Section 12 of the Income-tax Act, 2025 — retained and renumbered as Section 12 of the Income-tax Act, 2025. Retained. Agricultural income remains fully exempt, though it is considered for rate purposes for non-agricultural income.
For Section 10(1), the practical impact is rated High. Protects the farming sector from income tax.
Sec 10(1)
Provision Summary
Complete exemption of agricultural income from total income.
Sec 12
Provision Summary
Retained. Agricultural income remains fully exempt, though it is considered for rate purposes for non-agricultural income.
Key Changes & Highlights
- No change in the foundational exemption.
Related Sections
Frequently Asked Questions
What is Section 10(1) of the Income Tax Act, 1961 about?
Section 10(1) of the Income Tax Act, 1961 covers exemption - agricultural income. Complete exemption of agricultural income from total income.
Which section replaces Section 10(1) in the Income-tax Act, 2025?
Section 10(1) of the Income Tax Act, 1961 maps to Section 12 of the Income-tax Act, 2025, effective 1st April 2026 (status: Retained). Retained. Agricultural income remains fully exempt, though it is considered for rate purposes for non-agricultural income.
What is the impact of the change to Section 10(1) under the new tax code?
The transition impact for Section 10(1) is rated High. Protects the farming sector from income tax.
Disclaimer: This mapping of Section 10(1) (Exemption - Agricultural Income) to Section 12 of the Income-tax Act, 2025 is for educational and reference purposes only, based on publicly available drafts and circulars. As Section 10(1) is currently marked Retained, always confirm its treatment with a qualified Chartered Accountant before filing or making compliance decisions.
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