accounting for agriclutural income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 December 2009
I want to know that can i club my agri income with other business income & show it in P & L A/C
IN DETAILS
1. CAN I CHARGE AGRI EXP IN P&L A/C
2. CAN I CREDIT AGRI INCOME IN P&L A/C
3. IN THAT CASE MY OVER ALL PROFIT IS
FROM 2SOURCE ONE IS AGRI & ONE IS
BUSINESS.
4. IN THAT CASE MY AGRI INCOME IS ADDED
TO CAPITAL OR IT WILL CHARGABLE AS
REGULAR INCOME & NO SPECIAL TREATMENT
IN DETAILS
1. CAN I CHARGE AGRI EXP IN P&L A/C
2. CAN I CREDIT AGRI INCOME IN P&L A/C
3. IN THAT CASE MY OVER ALL PROFIT IS
FROM 2SOURCE ONE IS AGRI & ONE IS
BUSINESS.
4. IN THAT CASE MY AGRI INCOME IS ADDED
TO CAPITAL OR IT WILL CHARGABLE AS
REGULAR INCOME & NO SPECIAL TREATMENT
15 December 2009
I think you just have to show your agriculture income in Computatin not in your Business/Profession P&L account.
15 December 2009
For the Income-tax rate purposes only; net agricultural income will be added.
Agricultural Income is exempt from tax.
Agricultural Income is exempt from tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- Relief u/s Section 89
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
