The agricultural income of an assessee is aggregated with non agriculture income for computation of income tax.if the assessee has incurred a loss in agriculture, in that case his agri income will be considered or not?
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Aggregation of Agriculture incom
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Dear yuvraj,
Aggregation of agricultural income for rate purposes is not required if the agri income does not exceed Rs.5000 during the P.Y.
AGREE WITH NARAYANAN SIR
loss not aggregated income will be aggregated only if it is more than rs. 5000 in P.Y.
| Originally posted by : Renu (Article) | ||
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loss not aggregated income will be aggregated only if it is more than rs. 5000 in P.Y. |
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loss is considered as negative income and hence less than 5000 and not required to aggregation
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