STUDING
306 Points
Posted on 03 February 2011
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