Agricultural income earned in India is

The correct answer is fully exempted.

• Agriculture Income earned by a taxpayer in India is exempt under Section 10(1) of the Income Tax Act, 1961.
• Agricultural income is defined under section 2(1A) of the Income-tax Act.

As per section 2(1A), agricultural income generally means 

• Any rent or revenue derived from land which is situated in India and is used for agricultural purposes.
• Any income derived from such land by agriculture operations including processing of agricultural produce so as to render it fit for the market or sale of such products.
• Any income is attributable to a farmhouse subject to satisfaction of certain conditions specified in this regard in section 2(1A).
• Any income derived from saplings or seedlings grown in a nursery shall be deemed to be agricultural income.

• Income from the land used for storing agricultural produce can be considered as revenue derived from land used for agricultural purposes.
• Therefore, Income from the land used for storing agricultural produce is agricultural income under the Income Tax Act.