Income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 May 2014
I AM AN INDIVIDUAL HAVING A INCOME OF 500000
& ALSO HAVING AGRI INCOME OF 300000 IS SEC 87A EXEMPTION 2000 RS IS AVAILABLE ? WHAT IS THE TAX TREATMENT OF AGRI INCOME
& ALSO HAVING AGRI INCOME OF 300000 IS SEC 87A EXEMPTION 2000 RS IS AVAILABLE ? WHAT IS THE TAX TREATMENT OF AGRI INCOME
10 May 2014
Exemption of Rs. 2000 is available only if the total taxable income is not exceeding Rs. 500,000/-. Since in your case the taxable income is Rs. 800,000 (500,000+ 300,000), exemption is not available. Agricultural income will be added in Rs. 500,000 for determining the slab rate and then the tax on agricultural income shall be deducted from above to determine net tax liability.
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 May 2014
thank you very much
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- 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
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
