My income is agriculture (14 acres my own and leased 7 acres of coconut and cocoa),and rent from house of 20k per month.never filed income tax before, I have pan card it just acts as a Id proof. From my incomes from agriculture, I have invested 6 lakhs into shares last month and later on surfing net came to know that more than 1 lakh in shares per year will be issued a notice. My question is... my income is agriculture, since in agriculture leases and product selling does not happen with receipts, how can I prove income is agricultural if I have to explain to tax dept
CAclubindia
