banner_ad

agriculter income exceed rs. 40 lacs.

This query is : Resolved 
Profile Image

Profile Image

(Querist)
20 July 2009 if the agri. income exceed rs. 40 lacs then is it liable to tax audit under sec. 44AB of income tax act,1961 ?

assume that the assess has no other income exceed rs. 5000/-
Profile Image

umesh gupta

Profile Image

umesh gupta (Expert)
20 July 2009 Sec 44AB talks about if assesse has gross receipts from business and profession in equal to or more than 40lacs then he is liable to audit his books of account and agriculture income not business or profession in the income tax act. therefor he is not required to audit his accounts.
Profile Image

CA.Pujah

Profile Image

CA.Pujah (Expert)
20 July 2009 Sec44AB is for Income under the head business & profession and is not applicable for agricultural income
Profile Image

dhiraj moryani

Profile Image

dhiraj moryani (Expert)
20 July 2009 Agricultural Income is not included in Business Income. And sec 44AB is onle for Business & Profession
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details