Agriculture income

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4 Points Posted on 29 September 2020
Explain the concept of the agriculture income how to compute the tax liability of agriculture income
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On 29 September 2020 at 19:37 Report
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Quick Summary
Agriculture income in the UK is generally exempt from tax if it's your sole source of earnings. This discussion explains how to calculate tax liability, especially when you have both agricultural and other business income. It outlines a step-by-step process to determine your final tax payable, including applicable surcharges and cess.

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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.
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On 29 September 2020 at 19:45
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Prop.
22 Points Posted on 02 October 2020
How to compute the tax liability of agriculture income and Bussiness income
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On 02 October 2020 at 11:31
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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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On 04 October 2020 at 13:45

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