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Business with agri income

PANDIAN BRIGHT (TAX CONSULTANT) (319 Points)

18 March 2018

I NEED TO KNOW WHETHER THE AGRI INCOME ALSO DISCLOSED IN P&L AND B/S OR NOT? IF YES, PLEASE CLARIFY HOW TO DEALT WITH THIS

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2 Replies

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 18 March 2018

You can deal it include or Exclude...

If you are included then You ll be show under computation as "Exempted Income included in PandL"...

If you are not shown it include then You can separately shown in Computation window..

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PANDIAN BRIGHT (TAX CONSULTANT) (319 Points)
Replied 18 March 2018

THANK YOU FOR YOUR REPLY SIR. HE PURCHASED ANOTHER A PROPERTY DURING THE P.Y. BY UTILISING THE PROFIT OF AGRI INCOME ALSO. CAN I SO THAT AGRI INCOME IN LIABILITY SIDE (SOURSES) OF BALANCE SHEET WITHOUT SHOW IT IN P&L?