17 December 2015
sir, my Client is having an income of 270,000 from lease rents received from agricultural land in which aqua culture operations are being done. i have already filed IT RETURN FOR A.Y 2015-16 IN FORM ITR - 2A by Disclosing the lease rent of 2.7 lakhs under the head INCOME FROM OTHER SOURCES. PLZ GUIDE ME IS IT THE CORRECT WAY OR NOT IF IT IS WRONG PLZ SHOW ME THE PROPER SOLUTION.
18 December 2015
That Rs. 270000 is agriculture income (exempt u/s 10(1)) . and that is only be used for rate purpose (if there is any other income which exceeds the basic exemption limit)
CAclubindia
