Agricultural income

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2012 Sir,

If a person has salary income, & person also holds agricultural land & getting agricultural income out of that. Can he take the rebate of agricultural income at the time of filing return.

Kindly help me over it.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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09 February 2012 Yes.

It is compulsory to show Net Agriculture income (>5000).
.
It is added in the Total Income for deciding the tax slab.
.
Rebate is not truly a rebate...its a Bat ...on "free hit" ball. It may increase the tax liability.
.

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