Agricultural income
This query is : Resolved
CA Apoorva Gaurav
(Querist)
15 January 2013
When does the indirect method of Taxation on agricultural income gets attracted
i am bit confused
as somewhere i am finding it to be if the agricultural income exceeds Rs 5000
and at few places only if agricultral income exceeds the basic exemption limit as of the slab rate....
also couldnt find any refrence to any rule or circular if any????
i am bit confused
as somewhere i am finding it to be if the agricultural income exceeds Rs 5000
and at few places only if agricultral income exceeds the basic exemption limit as of the slab rate....
also couldnt find any refrence to any rule or circular if any????
Guest
Guest
(Expert)
15 January 2013
it is applicable when your agricultural income exceeds Rs.5000/- and Your Total Income from other than agricultural income exceeds basic exemption limit.
due to this method the tax burden will be on assessee only when the slab of income changed due to addition of such agricultural income.
due to this method the tax burden will be on assessee only when the slab of income changed due to addition of such agricultural income.
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