mother of my friend is getting income from post office as commision as account opening agent
and they have some land on his mother's name and their is an agriculture loan on this land
the income they get from this agriculture land is consumed in paying back the agriculture loan
so please tell during calcultating total income should they add the agriculture income with the commision income and they subtract the loan paid amout from the total income to calculate final total income?
TDS is deducted on the commision income for which they needed to file ITR.
as the agriculture income is consumed in paying loan so can they only mention commison income as total income.
income after adding agriculture income and commision income are tax free and so income without agriculture income will be tax free
so please suggest what should they. please give your views and suggestions on this problem.
CAclubindia
