Friends, Please tell me that if anyone person declare his agriculture income, then what documents / any other requirement should he possess to validate his agriculture income in front of ITO officer ??
Please tell me........
1 Replies
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 25 July 2018
Agricultural Income is not taxable . If you have only agricultural income no need to have any documents to prove its earning. It is better to maintain rough accounts: regarding amount spent on seeds ,fertilisers,insecticides, Labour , electricity, yield and sale of produce (quantity and amount received).
The local panchayat / BDO issues the certificates and income certificates to farmers if ITO in rare case insist for documents.
The local panchayat / BDO issues the certificates and income certificates to farmers if ITO in rare case insist for documents.
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