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?
CA PARAS BAFNA
(Expert)
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.
*
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