hello,
Iam reading padhuka's book for taxation(PCC),while reading agricultural income i.e.,taxability of agricultural income(5th question),i did not understand the 3rd point in 5th question.
3) MINIMUM TOTAL INCOME : the total income under the IT act should exceed the maximum amount not chargeable to tax.
can anyone pls explain me the above point as what is the maximum amount?is it the maximum limit of tax and if yes is it for individuals or resident women or senior citizens?pls tell me what does maximum limit in the 3rd point mean?
CAclubindia
