Tax treatment of agricultural income
This query is : Resolved
Querist : Anonymous
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...
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.
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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