AGRICULTURAL INCOME DECLARED U/S 10(1)


This query is : Resolved 

Quick Summary
This discussion addresses a tax query regarding agricultural income declared under Section 10(1) of the Income Tax Act. Despite the income being fully exempt, a notice for rectification and demand was received due to a mistaken declaration of over 5 lakhs. The user is seeking guidance on whether to file a revised return or a rectification request under Section 154, especially after discovering a small amount of SB interest income.

26 August 2022 DEAR SIR,

I HAVE FILED INCOME TAX RETURN FOR A FARMER. HIS TOTAL AGRICULTURAL INCOME MORE THAN 2173491/- DECLARED LESS EXPENDITURE 1661871/- INCOME DECLARED RS. 511620/- ACTUALLY I HAVE FILED INCOME FULLY EXEMPT U/S 10(1) BUT I HAVE RECEIVED NOTICE U/S 154 RECTIFICATION AND DEMAND DUE OF RS. 2420/- LESS AFTER REBATE OF 12500/- TOTAL TAX LIABLITY 14920/-. ACTUALLY BY MISTAKENLY FILED ABOVE 5 LAKHS SHALL WE FILE REVISED RETURN OF INCOME OR FILE RECTIFICATION REQUEST U/S 154.

PLEASE GUIDE ME

REGARDS

26 August 2022 What was other income along with agriculture income?

26 August 2022 THANK YOU DEAR SIR,

NOTHING OTHER INCOME DECLARED EXCEPT S B INTEREST RS.2625/-

THANK YOU SIR

REGARDS

27 August 2022 It cannot be. There seems to be some other income of around 45 Thousand...


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
26 September 2026
Chartared Accountant

pushpganga ventures

Pune

CA

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details