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Agriculture income

149 views 3 replies

Pankaj Rao

4 Points Posted on 29 September 2020

Explain the concept of the agriculture income how to compute the tax liability of agriculture income

Replies (3)

Sagar Patel

Tax and Business Consultant

11616 Points Posted on 29 September 2020

If you have only Agriculture income than, it's totally Exempt from tax..NO TAX liability.

Joraver

Prop.

22 Points Posted on 02 October 2020

How to compute the tax liability of agriculture income and Bussiness income

Sagar Patel

Tax and Business Consultant

11616 Points Posted on 04 October 2020

1. Compute tax on total income (i.e Agriculture + Non Agriculture)
2. Compute tax on (Agriculture income + Exemption limit i.e 2,50,000)
3. Step 1 tax - Step 2 tax = Tax payable
4. Surcharge and cess, if applicable

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