Agricultural Income
sachin patil (Accountant) (102 Points)
02 October 2009
Pl. tell slabs of rebate of agricultural income for ay 2009-10
sachin patil (Accountant) (102 Points)
02 October 2009
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 02 October 2009
There is no slab related to Agriculture Income.
Manmohan ACA, CS
(Chartered Accountant )
(14243 Points)
Replied 02 October 2009
| Originally posted by :sachin patil | ||
| " | Pl. tell slabs of rebate of agricultural income for ay 2009-10 | |
"slabs of rebate of agricultural income "
Please confirm ! are you really studying Income Tax Act, 1961 ; as there is no concept of "rebate of agricultural income "in IT act, till now.
Better change your Income tax book , from which this point has been emerged
Max Payne
(employed)
(2569 Points)
Replied 02 October 2009
Dear Sachin, there is no tax on agricultural income levied under the central income tax act.
The power to levy taxes on agriculture has been delegated to the states under their respective Agricultural Income Taxes Acts. So the provisions are different in different states. Depends on which state you are in.
(For Eg, From my very limited knowledge & experience, only large cultivators/plantations/Cash crops cultivators generate sufficient volume to fall under the Agricultural Income Tax Act in Kerala)
CAclubindia
