Agri. income
This query is : Resolved
23 March 2009
Dear Sir,
I have a salaried income of Rs. 2,40,000/- annually & i hv an agri. land & want to show Rs. 2 lacs agri. income from this land what will be tax structure applicable?
pls urgent
I have a salaried income of Rs. 2,40,000/- annually & i hv an agri. land & want to show Rs. 2 lacs agri. income from this land what will be tax structure applicable?
pls urgent
23 March 2009
Tax structure same as for individual. If you wants to prepare your return, email me data on ca.tilakrajsharma@yahoo.com
23 March 2009
U'LL HAVE TO COMPUTE TAX ON TOTAL OF 4.40LAKHS AND THAN CLAIM DEDUCTION ON EXEMPTED INCOME iE., (RS.2.00 + BASIC EXEMPTION LIMIT, WHICH IS RS.1.50LAKHS FOR MALE FOR AY 2009-10)
TAX ON 4.4 LAKHS - TAX ON 3.5 LAKHS
TAX ON 4.4 LAKHS - TAX ON 3.5 LAKHS
23 March 2009
agriculture income is considered only for rate purpose.
24 March 2009
Mr.Hussain is correct.
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