set off
This query is : Resolved
N.BALA RANGANATH
(Querist)
19 February 2009
Hello Experts,please clarify the following doubt.
I am private employee, getting 1.5 lakh per month.To reduce tax burden i would like to buy an agriculture land and to show agriculture loss and to set off against my income from salary.I had no other source of income.
Please suggest how to reduce tax burden with agriculture land.
Thanks in Advance
I am private employee, getting 1.5 lakh per month.To reduce tax burden i would like to buy an agriculture land and to show agriculture loss and to set off against my income from salary.I had no other source of income.
Please suggest how to reduce tax burden with agriculture land.
Thanks in Advance
CA. Mahesh Agarwal
(Expert)
19 February 2009
U can set off the agricultral loss as the agriculture income is exempted from tax.
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