Agriculture income ?

AUDITOR VINOTHKUMAR

20 Points Posted on 18 April 2011

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.????????

Replies (5)

susanta kumar jena

CA Final/ICWA Final

20 Points Posted on 18 April 2011

Hello,

here the salary income does not cross the exemption limit so ,it will not be taxable.

prashantkumar

CA final

20 Points Posted on 18 April 2011

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.

sayed

Auditor

20 Points Posted on 18 April 2011

If revenue is coming from land which i have given for agricultural purpose, will it be considered as agricultural income?

Guest

Posted on 18 April 2011

Originally posted by : prashantkumar
	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.