Hi,
Please guide on following case,
Assessee is individual below 60 years of age.
His annual salary from Pvt company is 8,00,000
His agriculture income 1,00,000
Agriculture expenses 40,000
Can assessee treat his agriculture income as business income and take the deduction of agriculture expenses from it?
Can we consider agriculture income as presumptive business income?
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Agriculture income as presumptive business income
Replies (3)
1. No.
2. No.
File ITR 2.
No File Itr2
Is it allowed to declare only net income (after deduction of agriculture expense) under head other source or I have to declare gross amount as income ( which I received in my bank account)?
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