Agriculture imcome
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 May 2018
Sir
One of my client have agriculture imcome Rs 27000.is it exempt or taxable. Please help regarding this matter.
One of my client have agriculture imcome Rs 27000.is it exempt or taxable. Please help regarding this matter.
Expert : Anonymous
Expert :
Anonymous
(Expert)
15 May 2018
The amount per se is exempt. But if he is having any other income integrated method of tax computation applicable.
16 May 2018
Integrated Method:
Compute Total income of your client.
Add: Net Agriculture Income (if above Rs 5000/) in the Total Income and compute tax on the aggregate amount.
From the above tax deduct tax on (250000+27000) which is Rs 2700. (Assuming Net AI is 27000). The balance amount is Net Tax.
Compute Total income of your client.
Add: Net Agriculture Income (if above Rs 5000/) in the Total Income and compute tax on the aggregate amount.
From the above tax deduct tax on (250000+27000) which is Rs 2700. (Assuming Net AI is 27000). The balance amount is Net Tax.
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