I have agriculture income and business income as well. I want to inflate my income by including agriculture income. But as i know it is included only for tax calculation purpose since it is exempted income. I want to show both business and agri income in ITR. Please suggest me how to show this income in ITR.
Menu
Agriculture income
Replies (1)
Agriculture income is exempt under the Indian Income Tax Act. This means that income earned from agricultural operations is not taxed. The reason for exemption of agriculture income from Central Taxation is that the Constitution gives exclusive power to make laws with respect to taxes on agricultural income to the State Legislature. However
while computing tax on non-agricultural income agricultural income is also taken into consideration .
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
Related Topics :
CAclubindia
