Even though agricultural income is typically exempt from tax, you are still required to declare it when filing your Income Tax Return (ITR). This applies even if you have other income sources like fixed deposit interest. Failing to declare all income, including farm earnings, is not the correct approach for tax filing.
08 July 2024
Person is farmer he has fixed deposits ( 11 Lakh Rs. ) in bank and TDS Deducted on Interest income
My question is Agriculture income is Exempt income So if i only Show interest (interest on deposits ) income in ITR and Skip agriculture income (Because of Exempt Income ) then this is correct way of showing income of farmer or i need to Show Agriclture income in ITR