Cash payment up to Rs 50,000 farmers in 80 percent mandis in State

Bhopal: Cash payment up to Rs 50,000 is being made to farmers in 80 percent Krishi Upaj Mandis in the state under Bhavantar Bhugtan Yojana. In this regard, Income Tax Department also clarifies that if trader pays Rs 50,000 in cash to farmers as part of payment for agriculture produce, then such cash payment won't be considered as the violation of Income Tax Act 1961 and Income Tax Rules 1962.

 At present, in most of Krishi Upaj Mandis, cash payment up to Rs 50,000 is being made to farmers registered under Bhavantar Bhugtan Yojana. In some Krishi Upaj Mandis where, payment up to Rs 10,000 is being made in cash to farmers, efforts are on for payment up to Rs 50,000 in cash. Farmers will soon get payment up to Rs 50,000 in cash in such mandis. Noteworthy is that purchasing of farmers' produce is going on in 257 mandis in the state under Bhavantar Bhugtan Yojana.-Windowtonews