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Agricultural income

Jayakrishna (Student) (132 Points)

26 March 2016

Hi, Why we are having separate procedure to calculate Agricultural income?? Can we just deduct that income from Gross total income(or exempt) directly??

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mohammad rasool baig (Management Consultant) (1026 Points)
Replied 28 March 2016

Agricultural income is exempted as per IT act but it needs to be included in your total income because it will impact your tax rate range. So please include your agri income in gross total income & then take exemption.