Agrilculture expenses claimed standard deduction or actual expenes claimed correct procedure


This query is : Resolved 

Quick Summary
When reporting income from selling paddy, you can claim expenses against it. The correct procedure is to claim actual expenses incurred, even though agricultural income is generally exempt from tax. This ensures accurate reporting of your finances.

14 August 2024 sir,
It assessee sale of paddy income rs:285000/- (agrilculture income ).but assessee expenses claimed acutal or standard deduction(estimated 30%) less on agrilculture income correct procedure.

14 August 2024 Actual expenses to be claimed, though finally agricultural income is exempt.

26 August 2024 You are welcome.


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