Agriculture Income
This query is : Resolved
Murtaza I Bhagat
(Querist)
04 December 2009
Dear Experts,
Do we can add Agriculture Income in Gross Income,even if its Exempted Income...?
while Prepairing Ack.
Thanks in advance
Do we can add Agriculture Income in Gross Income,even if its Exempted Income...?
while Prepairing Ack.
Thanks in advance
CA.Yogesh Patel
(Expert)
04 December 2009
Hi,
Agriculture income is considered for rate purpose only.
It is first added in the total income to determine the slab of taxation but tax is levied on income other than agriculture income.
Agriculture income is considered for rate purpose only.
It is first added in the total income to determine the slab of taxation but tax is levied on income other than agriculture income.
CA Ravi Sisodia
(Expert)
04 December 2009
agree
CA Anil Jain
(Expert)
05 December 2009
Considered only for aggregation of income.
i.e for higher tax rate, but only total income excluding agriculture income is taxable.
this aggregation is applicable in case of Individual and HUF if agriculture income excedding RS. 5000/-
i.e for higher tax rate, but only total income excluding agriculture income is taxable.
this aggregation is applicable in case of Individual and HUF if agriculture income excedding RS. 5000/-
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