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Tax treatment of agricultural income

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 August 2014 My assessee is having total agricultural income of Rs.7.5 lakhs pa.Is this amount taxable? whether I can claim any expenses regarding agricultural income...
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Akshay Malpani

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Akshay Malpani (Expert)
26 August 2014 Concept of aggregation of income comes into picture. If he is having other taxable income along-with this agricultural income; tax liability might increase.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 August 2014 Agricultural income is exempted from income tax. If there is other taxable income it will be taken for rate purposes.




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