I want to know that
if an individual has10,00,000 of agricultural income and has no other income should file his return.
If yes what is the section in IT,act and
ITR also........
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Agricultural income
Replies (1)
ITR-2:
The ITR-2 Form is generally used by individuals who have accrued income through the sale of assets or property as well as individuals who earn income from countries outside India. Individuals or Hindu Undivided Families (HUF) can avail of this form to file their returns. This form is applicable for the following:
- Individuals who earn income through salary or through means such as pension
- Individuals who earn income through the sale of assets or property in India ie: capital gains
- Individuals who earn income from more than one housing property
- Individuals who do not earn income from any business venture
- Individuals who own assets in countries outside of India
- Individuals who earn income from countries outside of India
- Individuals whose income from agriculture is above Rs 5,000
- Individuals who earned income from any windfall such as lotteries or horse racing
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