agricultural income
KAJAL YADAV (17 Points)
22 November 2017
income received from letting of a land situated in india, which is used for agricultural operations.
7 Replies
Shailesh Kumar
(116 Points)
Replied 22 November 2017
exempt under section 10(1) but it will be consider for income tax computation
KAJAL YADAV
(17 Points)
Replied 22 November 2017
exempt but why it is used for agricultural operations?
Ashish Khillan
(Gaining knowledge)
(1039 Points)
Replied 22 November 2017
agriculture income is exemt but tax on it collected from other income head.
Ashish Khillan
(Gaining knowledge)
(1039 Points)
Replied 22 November 2017
tax is charged but indirectly
Sunil Ahmad
(Student)
(1511 Points)
Replied 22 November 2017
In the following case agriculture income is exempt:
*any rent derived from land situated in india and used for agriculture purpose.
*income by renting agriculture land or any process by cultivator
*any rent derived from land situated in india and used for agriculture purpose.
*income by renting agriculture land or any process by cultivator
Sunil Ahmad
(Student)
(1511 Points)
Replied 22 November 2017
Agriculture income AI is exempt u/s 10(1).
however AI is taxable if it exceeds RS.5000 p.a
and non AI exceeds basic exemption limit.
however AI is taxable if it exceeds RS.5000 p.a
and non AI exceeds basic exemption limit.
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