What you get
Benefit Period: 3 years of Agricultural Income Tax holiday. | Applicable Financial Years: 2022-23 to 2024-25. | Condition: Returns must be filed within the due date; if not filed on the due date, interest and penalty will be applicable.
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
How long will I be exempted from paying agricultural income tax under this incentive scheme?
You will receive a complete agricultural income tax holiday for 3 years under this scheme.
Which specific financial years are covered under the agricultural income tax holiday benefit provided by this scheme?
The agricultural income tax holiday applies to the financial years 2022-23, 2023-24, and 2024-25.
What is the most important condition I must fulfill to continue enjoying the agricultural income tax holiday benefits?
You must file your tax returns within the due date for each applicable financial year to maintain the tax holiday benefit.
What consequences will I face if I fail to file my tax returns by the due date during the tax holiday period?
If you do not file returns by the due date, interest and penalty charges will become applicable despite the tax holiday.
Can I apply for this agricultural income tax holiday if I own a tea plantation of any size or capacity?
Yes, tea plantations across all sizes are eligible to apply for the agricultural income tax holiday under this scheme.
What types of tea manufacturing activities make me eligible to receive the agricultural income tax holiday benefits?
You are eligible if you manufacture Crush, Tear, Curl tea, Orthodox tea, or Speciality tea including Green tea, Oolong tea, White tea, Yellow tea, and Purple tea.
Is there any geographical restriction on where my tea plantation should be located to qualify for this tax holiday?
Yes, your entire tea plantation must be located within the State of Assam without any part outside the state.
Can I still qualify for the agricultural income tax holiday if part of my plantation is located outside Assam?
No, you cannot qualify if any part of your plantation or manufacturing facility is located outside the State of Assam.
Do I need to have both tea plantation and manufacturing facilities to be eligible for the tax holiday?
You can be eligible as either a tea plantation across all sizes or as a tea manufacturing unit producing the specified types of tea.
What is the primary objective behind offering this agricultural income tax holiday to tea industry participants?
The scheme aims to ensure long-term financial sustainability of the tea industry and incentivize manufacturers to move from Crush, Tear, Curl tea to Orthodox tea production.
Which government departments are responsible for implementing this agricultural income tax holiday scheme in Assam?
The scheme is implemented by the Finance Department and the Industries & Commerce Department, Government of Assam.
What agencies will be involved in the actual implementation and processing of my tax holiday application?
The scheme is implemented through multiple agencies including banks and the District Industries & Commerce Centre along with the government departments.
How can I apply for this agricultural income tax holiday and what is the application submission method?
Applications for this scheme are accepted online through a dedicated portal with a streamlined digital submission process.
What mechanism is used for providing the tax holiday benefits and how will I receive confirmation of the same?
The scheme uses a Direct Benefit Transfer mechanism for processing and confirming the agricultural income tax holiday benefits.