Agreecalture Income

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Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2010 suppose if I got Income of Rs 5000000/-from poultry forming or crops sale then i dont have to pay tax ?

srinath

srinath (Expert)
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09 August 2010 u need not pay tax on this... if u r individual u need to add this to ur total income and arrive at adjusted total income

and u need to calculate tax on this adjusted total income and u can claim rebate on the agricultural income

rebate is calculated as under.
add basic exemption with the agricultural income and then calculate tax on this. this would be ur rebate