income from agriculture income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 December 2009
hi all,
my cilent is a farmer, is planning to take a farm on lease and do farming.
what will be the implication of income earned from this, will it be exempt as agriculture income.
is there any need to make alteration in 7/12 extract.
my cilent is a farmer, is planning to take a farm on lease and do farming.
what will be the implication of income earned from this, will it be exempt as agriculture income.
is there any need to make alteration in 7/12 extract.
12 December 2009
Agriculture Income is Exempt upto 1,50,000/- for farmers only.
12 December 2009
Agriculture Income is Exempt upto 1,50,000/- for farmers only.
12 December 2009
Agriculture Income is Exempt max. upto 1,50,000/- for farmers only.
13 December 2009
Provisions of Section 2(1A) exempts wholly the agricultural income from Income Tax.
Your client should enjoy. Never go for filing of income-tax returns. In recent years; huge incomes tax disallowances have been made by the Income-tax department and rasied demands.
Better to choose that family member who is not having other sources of income. That is; plan in such a way that only Agricultural Income is there in the hands of farmer.
Your client should enjoy. Never go for filing of income-tax returns. In recent years; huge incomes tax disallowances have been made by the Income-tax department and rasied demands.
Better to choose that family member who is not having other sources of income. That is; plan in such a way that only Agricultural Income is there in the hands of farmer.
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