Agricultural income ,proof
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 September 2013
Sir,
I have agricultural income in the range 0f 2.5 to 3 lakhs from mango orchards (1.5 acres) ,agricultural lands of about 18 acres where vegetables ,paddy and wheat are sown by my bataidars.It is always an oral arrangement whereby I get 30% produce price (fixed at the beginning of each year at the time of agreement) by my bataidars directly so that I do not have to bother about getting involved in selling the produce.
I know that agr. income is exempt from income tax. I deposit the agr income in bank a/c. My question is in case of scrutiny what documents of proof of agr. income are required. I have only land documents to show. No written agreements or pucca money receipts (to cultivators )as they are trusted people who have been cultivating our land since the lifetime of my grandfather.
PL REPLY SOON
THANKS
I have agricultural income in the range 0f 2.5 to 3 lakhs from mango orchards (1.5 acres) ,agricultural lands of about 18 acres where vegetables ,paddy and wheat are sown by my bataidars.It is always an oral arrangement whereby I get 30% produce price (fixed at the beginning of each year at the time of agreement) by my bataidars directly so that I do not have to bother about getting involved in selling the produce.
I know that agr. income is exempt from income tax. I deposit the agr income in bank a/c. My question is in case of scrutiny what documents of proof of agr. income are required. I have only land documents to show. No written agreements or pucca money receipts (to cultivators )as they are trusted people who have been cultivating our land since the lifetime of my grandfather.
PL REPLY SOON
THANKS
04 September 2013
Ask the person who are giving u the payment to give u inwriting for income tax safety purpose a certificate mentionning the total amount u getting from them and the source which is agriculture income must be clearly mentioning their name and signature along with a receipt for the same bearing revenue stamp on it duly signed.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital Gains Tax on Inherited Mutual Fund
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation Error – Mandatory Fields
- IMS (import of goods) ITC related
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
