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 Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
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 does Section 10(1) of the Income Tax Act 1961 deal with?
Section 10(1) (Exemption - Agricultural Income) Complete exemption of agricultural income from total income.
What is the new section number for Section 10(1) under the Direct Tax Code 2025?
Section 10(1) of the ITA 1961 maps to Section 12 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 10(1) under the new tax code?
Section 10(1) is marked as "Retained" with status "Active". Impact: High - Protects the farming sector from income tax.
What are the key changes to Section 10(1) under DTC 2025?
No change in the foundational exemption.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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