Sir
IF INCOME EXCEEDS 5 LACS DUE TO INCLUSION OF AGRICULTURAL INCOME,CAN I TAKE REBATE U/S 87A of Rs 2000/-?
Kindly please reply
sunil aravind (accountant) (96 Points)
22 September 2014Sir
IF INCOME EXCEEDS 5 LACS DUE TO INCLUSION OF AGRICULTURAL INCOME,CAN I TAKE REBATE U/S 87A of Rs 2000/-?
Kindly please reply
CA PAYAL GAJJAR
(Personal Practice)
(150 Points)
Replied 22 September 2014
Agriculture income will not form part of total income i.e.it is exempted income.So if our total income do not exceeds Rs.500000/- in case of individual and huf then rebate u/s 87A is applicable.
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