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Agriculture income itr

ITR 581 views 2 replies

Vikram Dalal

Farmer

21 Points Joined October 2018

1. I have 4.90 lakh income from agriculture (cash dealing all amount) and my income is exempt from tax . If I file Itr now, still I have to pay late charge of 1000rs as my income is exempt.

2. In above case if Income is more than 5lakh what will be charges.

Replies (2)

CA Rakesh Joshi

Chartered Accountant

1272 Points Joined May 2015

Since agricultural income does not enter any heads of income and directly exempt u/s 10 I think it will not enter in GTI and hence not part of TI. If in that case even though the agriculture income may be of any amount need not pay any late fees u/s 234F.

Section 234F will be attracted only if the total income exceeds BEL.

Rohan Bagra

406 Points Joined May 2016

exempt incomes are not part of GTI so in that case agricultural income will not be part of GTI and in that case GTI not exceed BEL.
so no late fee as per section 234F.