Agriculture income

This query is : Resolved

jaykishan khatik (Querist)
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19 April 2012 can any 1 give me solution for Agriculture income under Income tax act as Taxable Income

I Have Agriculture loss of 300000/- from last year B/f but Having Agriculture income in the Current Year of 250000/- as well other Head Income of 100000/-

please provide me Solution ?

with More Clarification of Sett-off

thanks but ,if it is a Taxable Agricultural income then what will b the Reply of my 2nd Para ?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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19 April 2012 Agriculture Income is an exempt income and losses can not be carried forwarded.
.
Hence set off is not allowed against the income of current year.
.

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