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Agri. income

This query is : Resolved 
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(Querist)
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
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
23 March 2009 Tax structure same as for individual. If you wants to prepare your return, email me data on ca.tilakrajsharma@yahoo.com
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HUZAIFA HUSSAIN

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HUZAIFA HUSSAIN (Expert)
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
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SANJAY VERMA

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SANJAY VERMA (Expert)
23 March 2009 agriculture income is considered only for rate purpose.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
24 March 2009 Mr.Hussain is correct.
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