06 December 2011
I have agriculture land around 1 acre in the outskirts of Hyderabad I want to know can I claim Agriculture Income from that land. As I have my other business income and we have done farming in that land but we do not have any bills to prove that. Upto what extent Income from agricultural land is exempted.
07 December 2011
you have to compute agriculture land income. If you havent any proof for that then ITO will make addition for this income. There is no limit for exemption.
CAclubindia
