Proff for Agriculture Income
This query is : Resolved
02 March 2011
I want know that how can I prove any agriculture income received by any person?
For claiming exemption of agriculture income what proff is required?
For claiming exemption of agriculture income what proff is required?
02 March 2011
The person should either be the owner of Agriculture Land or has taken Agriculture land on lease and cultivation or crop raising exercise was carried on by him on such land. For these, land records and lease agreement is required.
In addition to above, bills are required in case the crop has been sold in market yards
(Mandi) or to any grain merchant.
Further if you can produce bills for fertilizer, irrigation expenses, electric bills , seeds bill, that will make your case more sustainable.
*
My suggestion to you-
in case the client is not able to produce sufficient records to the satisfaction of AO, his entire Agriculture Income may be treated as taxable income. So do not inflate agriculture income. It is making a difference in payment of tax also by change in slab.
*
In addition to above, bills are required in case the crop has been sold in market yards
(Mandi) or to any grain merchant.
Further if you can produce bills for fertilizer, irrigation expenses, electric bills , seeds bill, that will make your case more sustainable.
*
My suggestion to you-
in case the client is not able to produce sufficient records to the satisfaction of AO, his entire Agriculture Income may be treated as taxable income. So do not inflate agriculture income. It is making a difference in payment of tax also by change in slab.
*
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- REGARDING GST LIABILITY/....
- Tax liability on income of freelancer
- SALE BILL AGAINST GOODS RETURN
- Loan by Partnership Firm
- STCG FOR GOLD ETFs
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
