Tax payable or not
This query is : Resolved
Surendra Kumar Sharma
(Querist)
23 February 2013
Dear Sir
Please guide is agricultural income is taxable or not and which ITR form submitted for agricultural
Please guide is agricultural income is taxable or not and which ITR form submitted for agricultural
23 February 2013
Hi,
Its not taxable..
If you have only agricultural income, then the income is not taxable. It is fully exempt. For example your total agricultural income is Rs.340000 per year and there is no other source of income. In this case you are not required to pay any tax and file the tax returns
Pl refer this super article on agricultural income.
https://www.indiantaxupdates.com/2012/10/19/taxation-on-agricultural-income-in-india/
Thanks!!
Its not taxable..
If you have only agricultural income, then the income is not taxable. It is fully exempt. For example your total agricultural income is Rs.340000 per year and there is no other source of income. In this case you are not required to pay any tax and file the tax returns
Pl refer this super article on agricultural income.
https://www.indiantaxupdates.com/2012/10/19/taxation-on-agricultural-income-in-india/
Thanks!!
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