query for income tax

in case of computation of agricultural income for partial integration. will any land revenue charges paid for agricultural land be deducted from agricultural income??

Replies (2)

yes u can deduct revenue charges incurred from Agriculture income and the balance i,e Net income will be computed for partial Intigration

Because Agriculture income is not computed directly , it is indirectly calculated after taking the basic exemption limit and other income in one step

in the second step with out giving any exemption limit it cal. directly

the Difference between Step 1 & step 2 is given as Relief  in cal. Agriculture income

If the Agriculture income is below 5000/- its fully exempted

If any mistakes correct me

While Computing tax , we have to add "Net Agriculture Income" with the Total Income.

Aggregate of these two is called "Total Income for Rate Purpose".

 

Net Agriculture Income means Income -all the expenses incurred by the assessee

till the produce has been sold. 

Land Revenue is Revenue Expenditure and as such it can be deducted.

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