SALARY INCOME 01-04-06 TO 31-03-07 99600
PER MONTH 8300*12 MONTH
ASSESSABLE INCOME 99600
AGRICULTURE INCOME 145000
TOTAL INCOME 244600
TAX THERE ON 23920
LESS BASIC EXEMPTION AND AGRI. INCOME 24000
TAX PAYABLE NIL
THIS TAXABLE CALCULATION CORRECT OR NOT PLS.. HOW TO CALUCUTAION URGENT HELP ME.????????
Hello,
here the salary income does not cross the exemption limit so ,it will not be taxable.
If revenue is coming from land which i have given for agricultural purpose, will it be considered as agricultural income?
| Originally posted by : prashantkumar | ||
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ya am Agreeing with susanta kumar sir statement becoz 4 agreegating agricultural income with non-agricultural income, non-agre income should exceeds the besic exemption limit. i think u had clarifed ur dvt. |
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| Originally posted by : susanta kumar jena | ||
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Hello, here the salary income does not cross the exemption limit so ,it will not be taxable. |
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well said.
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