Agriculture income , when will it be tax free ?
Querist : Anonymous
i am small farmer . i have 1 acre land for cultivation . in a year i produce 2-3 commodities. i never went to market to sell my agriculture product , sometimes a broker or some times a commodity broker or some times a retailer directly comes and make a deal . this way , i earn 250000 to 300000 in a year .
Now my question is ..
1) Can I File income tax ?
2) since i have done deals through brokers and retailers directly therefor i have no written agreement and any slip or any piece of paper of deal . will it be raise any issue while filing an ITR ?
3)A farmer only wants profit and instant money then Is it really necessary for farmer to deal with a such type of person who can deal on paper then will buy a commodity ?
for a farmer , what are the tools or options or methods available to make it simplify so that he can also file an ITR easily .
2. no it wont make any difference how you sold your product
3. not a clear question
4. you just need to compute total amounts received and reduce the cost incurred during agriculture activities. the remaining amount is profit. Please file ITR2.
Querist : Anonymous
Querist : Anonymous
In a notebook i maintain total price of seeds and other expenses and how much have i sold to others , what is my profit etc etc ... in this way i only maintain record .
Querist : Anonymous
Sir in a year i earn 2 lacs to 3 lacs sometimes less than 2 lacs.
Querist : Anonymous
I heard , agriculture income is exempted from income tax . how will i get benefit ?
Querist : Anonymous
Querist : Anonymous
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