agricultural income tax filing is it mandatory
This query is : Resolved
13 December 2016
hello sir,
I am a farmer and I have all my income generated from farming by selling fruits, vegetables, pulses, milk and livestock like, sheep, chicken, to local purchasers in open markets
is it mandatory to file income tax
I have 60 acre of land with thousands of animals
my agricultural income for 2016-2017 is about 60 lakh
please let me know is it nessary to file tax and how to do it
thanks and regards
9900998788
13 December 2016
Only income from agricultural produce and lease income from agricultural land is exempt. Income from livestock is taxable. Contact CA nearby for filing return.
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