Tax on agriculature income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2012
dear sir,
tax will be applicable on agriculature income or not. pls explain me.
tax will be applicable on agriculature income or not. pls explain me.
Unnikrishnan
(Expert)
31 July 2012
Sir,
Agricultural income is exempt tax by virtue of Sec 10(1) of the IT Act.
For a defenition of "Agricultural income: - See Section 2(1A).
Note- It is still to be considered for arriving at the applicable rate slab of such assessee in cases where assesee has income chargheable under other heads
Agricultural income is exempt tax by virtue of Sec 10(1) of the IT Act.
For a defenition of "Agricultural income: - See Section 2(1A).
Note- It is still to be considered for arriving at the applicable rate slab of such assessee in cases where assesee has income chargheable under other heads
31 July 2012
Agricultural income is exempt from tax.
However, it is added to the total income for rate purposes only.
However, it is added to the total income for rate purposes only.
CA BHARATH KUMAR
(Expert)
01 August 2012
agricultural income exempt from tax under sec 10(1)
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