Prelims 2025 • Paper 1 (GS) • Q.5

Prelims 2025Paper 1 (GS) • Q.5
PrelimsPaper 1 (GS)2025 • Q.5
Economics

Consider the following statements :

Statement I
In India, income from allied agricultural activities like poultry farming and wool rearing in rural areas is exempted from any tax.
Statement II
In India, rural agricultural land is not considered a capital asset under the provisions of the Income-tax Act, 1961.

Which one of the following is correct in respect of the above statements?

2025 PrelimsPaper 1 (GS)

Syllabus Connection

Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. (GS-III)

NCERT Connection

Ch.1: Introduction to Microeconomics

Economics • Class 12Class 12 Microeconomics

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