Agricultural Income
This query is : Resolved
15 September 2009
1. Total sale proceeds is Rs.90,00,000/- wheather section 44ab applicable?
2. Assessee is a partnership firm with objective to carry on only agriculatural activity. Is there any bar on calim rebate for agriculatural income.?
2. Assessee is a partnership firm with objective to carry on only agriculatural activity. Is there any bar on calim rebate for agriculatural income.?
15 September 2009
1. Sec. 44AB is applicable only to business. As the income from agriculture is exempt from tax therefore sec. 44AB not applicable.
2. No bar as such. partnership firm can claim exemption of agriculture income.
2. No bar as such. partnership firm can claim exemption of agriculture income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
