Agriculture income
This query is : Resolved
25 August 2013
Respected Sir,
I am Vijay Teraiya from Rajula - Gujarat.
I received a demand notice from IT Department against my ITR as they clubbed my Gain from sale of
My Agriculture Land at remote area which was exempted income. They treated gain of above land as
AGRICULTURE Income with my income from agriculture produces for slab calculation.
Let me know this exempted income/gain can be treated as Agriculture Income ?
Thanking of you
Best Regards
Vijay Teraiya
I am Vijay Teraiya from Rajula - Gujarat.
I received a demand notice from IT Department against my ITR as they clubbed my Gain from sale of
My Agriculture Land at remote area which was exempted income. They treated gain of above land as
AGRICULTURE Income with my income from agriculture produces for slab calculation.
Let me know this exempted income/gain can be treated as Agriculture Income ?
Thanking of you
Best Regards
Vijay Teraiya
25 August 2013
How they have come to know the amount of profit on sale of rural agriculture land? It is a capital receipt and is not supposed to be disclosed any where in the return of income prominently. Rectify the return- in case you have received Intimation U/s 140(1) (a) or submit explanation to the AO in case of Demand.
.
.
25 August 2013
THANKS SIR,
IT WAS SHOWN IN COMPUTATION AS EXEMPTED INCOME CLAIM UNDER CHAPTER III AS
UNDER U/S 2(2)
IT WAS SHOWN IN COMPUTATION AS EXEMPTED INCOME CLAIM UNDER CHAPTER III AS
UNDER U/S 2(2)
25 August 2013
INTIMATION IS U/S 143(1)
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