Is agricultural income taxable when other sources income is Rs. 3021
and agricultural income is Rs. 1508891 in financial year 18-19.
Thanks in Advance
Menu
Agricultural Income Taxability
Replies (3)
Agriculture income is exempt but concept of partial intigretion is applicable... above incomes you mentioned even partial intigretion applicable but tax amount NIL
Agriculture income as such is tax free.
However it is considered as income for determining the effective tax for other sources of income.
in your case there is Nil tax
However it is considered as income for determining the effective tax for other sources of income.
in your case there is Nil tax
1. Agricultural income is basically exempted from payment of tax u/s 10(1).
2. However for the purpose of determining the effective tax for non-agricultural income basic exemption limit is to be considered. In your case since other income is below the basic exemption limit, there will not be any tax liability.
Please correct me if the above solution has an alternative view.
Recent Topics :
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
Related Topics :
CAclubindia
