REGARDING AGRICULTURE INCOME
This query is : Resolved
26 September 2020
What if Agricultural Land is in name of Father but son is doing Farming , agricultural produced had been sold by His Son in Mandi And Bill Also Have Name of his Son and payment received directly in his sons Bank Account and some amount received in cash (less than Rs 200000). Can Son in his income tax return show Agricultural Income though he has no agricultural land in his name ???
27 September 2020
Yes, son can show agriculture income in his ITR. There is also a field in ITR to mention that agriculture land is owned or on lease. However, this is mandatory only if agri income exceeds Rs. 5 lakh. But you can mention voluntarily.
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