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For agricultural income
support we compute income of assesee both nonagricultural income and agricultural income. it attract the provision of 10(1) for partial integration of taxes so can it increase tax liability of assesse or not and how it affect in tax liability of assesse????
Replies (2)
Yes it will increase tax liability provided. The tax liability will be affected by calculating as per the formula given in income tax act for aggregation of agricultural and non agricultural income. However aggregation is applicable to all types like Individual, HUF, AOP, BOI, company and firm. However in case of company, LLP, partnership firm etc, where income is chargeable at flat rate aggregation will not have impact on tax liability.
thank u sir
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