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Tax payable or not

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23 February 2013 Dear Sir

Please guide is agricultural income is taxable or not and which ITR form submitted for agricultural


23 February 2013 Hi,

Its not taxable..

If you have only agricultural income, then the income is not taxable. It is fully exempt. For example your total agricultural income is Rs.340000 per year and there is no other source of income. In this case you are not required to pay any tax and file the tax returns

Pl refer this super article on agricultural income.

http://www.indiantaxupdates.com/2012/10/19/taxation-on-agricultural-income-in-india/


Thanks!!



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