Section 2 of ITA, 1961 – Section 2: Definitions | ITA, 1961

The Income-tax Act, 1961

In this Act, unless the context otherwise requires,

advance tax means the advance tax payable in accordance with the provisions of Chapter XVII - C;
agricultural income means
1. any rent or revenue derived from land which is situated in India and is used for agricultural purposes;
2. any income derived from such land by
  1. agriculture; or
  2. the performance by a cultivator or receiver of rent - in - kind of any process ordinarily employed by a cultivator or receiver of rent - in - kind to render the produce raised or received by him fit to be taken to

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Explanation using examples

Let's say Mr. Sharma owns a piece of land in a rural area of India which he uses for growing wheat. The income he earns from the sale of the w