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Agriculture Income in P&L & B/S.

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(Querist)
05 December 2009 How we can take Agriculture Income amount in P&L & B/S ?

It create Difference by adding Agriculture Income with Profession or Business ?

Thanks in advance.
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M Prabhakar Menon

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M Prabhakar Menon (Expert)
05 December 2009 what u can include in the P & L a/c depends on the nature of business and the system of account keeping followed, as u may be aware P & L A/c is the summary of the revenue transactions of a business over a period.
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Murtaza I Bhagat

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Murtaza I Bhagat (Querist)
05 December 2009 Pls Explain more in this concern

Thanks
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
05 December 2009 You can less the same in computation of business income as it is ur exempt income and no tax is being payable on it.

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