If anyone having Agricultural Income is more than 20 Lacs, than which ITR Should be filled ?? Up to how much agricultural Income is exempt What kind of a documents one will have to produce if I.T. Officer asks??
If anyone having Agricultural Income is more than 20 Lacs, than which ITR Should be filled ?? Up to how much agricultural Income is exempt What kind of a documents one will have to produce if I.T. Officer asks??
Agricultural income is not taxable under Section 10 (1) of the Income Tax Act as it is not counted as a part of an individual's total income. However, the state government can levy tax on agricultural income if the amount exceeds Rs. 5,000 per year.
File ITR 2 if no PGBP income to declare.
In case of any income from Business or Profession along with agricultural income, file ITR3.
Agricultural income is totally tax exempt; but it is considered in total income for slab rate.
IF ANYONE HAVING AGRICULTURE INCOME ( MPRE THAN 20 LAC ) AS WELL AS SALARY INCOME UP TO 3 LAC, THAN WHICH ITR SHOULD BE SELECTED ??
ITR 2 ...............
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