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Agriculture income

Tax queries 210 views 3 replies

hi my dear professionals,

 i had agricultural income of Rs.1350000 and Business income of Rs.200000. and i had deduction under section 80c is Rs. 150000. for assessment year 2017-18 (finantial yera 2016-17)

please calculate agricultural income. how much amount should be payable on tax. 

i want notes how to calculate that too. 

thanks regards,

M.SEETHARAMAN.

Replies (3)

NO TAX LIABILITY !!!

thank you sir, 

i got it. because the business income is not more then basic taxable income (i.e. Rs.250000)

am i corret.

Yes... You are exactly correct...
Also you have deductions Rs 1.5lakhs...


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