Agri income calculation?

Dear Vinoth,

your calculation is wrong, because if the taxable income is less than the exempted limit as prescribed by the act, then there is no tax even if the agricultural income+business income exceeds the limit.

regards

Dear sir, 

Agri Income                                                       325330

biz. income  from tractor                                    165000

(use in agriculture only )

                                                                         -----------------

                                                                         490330

tax there on      490330                                     34020                                          

less      basic exemption 10% agri                 32533

                          tax payable                          1487

above the cal. correct or not?

if wrong how pls. advice me.. sir,

see the attachment

Thanks a lot