AGRICULTURAL INCOME

hi manoj

you compute the Business income asusual  and Agri Income  Rs280000/-

you compute the Agricultural income calculat separtely

first step

A Person men below 65 years

Basic limit of AY 2008-09  RS.110000

Agricultural Income  Rs.280000

Add:basic limit          Rs.110000

Total                           Rs.  390000 

calculation

110000         Nil

110000 to 150000  10% 40000  Rs.4000

150000 to 250000 20%   100000 Rs.20000

above 250000 30%  Balance  90000 Rs.27000

Total tax on agricultural income Rs.51000

further clarification contact

jmoneykandan @ gmail.com

I dont agree with manikandan..........    

 Nothing is to be payable as tax if it is the case of individual income because the total income are below the exemption limit in both AY.......  here total income will be income other than agriculture income........    

And There are no need to file a return in this case.............

Dear Manoj Sir,

Agree with friend Bharat.........

Taxability will be Nil in this case and retrun filing is not mandatory..........