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Agriculture income
I earn in last year 1290000 agricultural income
Non agriculture income is zero
So I filled income tax return or not
Replies (14)
filing is better but by the quantum of income keep documents n supporting ready to prove the same.
No need to file as whole income is exempt u/s 10(1).
you fill your return because it us compulsory to fill return As per Indian govt. every individual has to file return and you know that it is fully exempt so , u file return it is good for our govt
Thanks sir
But which return form I filled and if purchased like car or gold from this income is it taxable
Income tax notice is not given by department to me please give reply thanks
buying is not taxable but selling of these item for profit is taxable.
Ok I understand sir but which form should be filled
File ITR 2
Thanks for clarification of my query
no need to file return ..
u/s 139 an assesse is require to file return if his total income is exceeding the taxable income....
ur income is fully exempt thus not require to file return
u/s 139 an assesse is require to file return if his total income is exceeding the taxable income....
ur income is fully exempt thus not require to file return
Sir, you are not required to file return u/s 139(1) as your whole income is exempt by virtue of section 10(1). However, in case you are planning to take any loan from bank in future you can file your return. Also, it is advised that you should have proper evidences to substantiate your claim that your income is fully exempt in case any notice is issued to you from ddepartment
Persons having GTI above 2.5 lacs are required to file ITR and agriculture income is exempt u/s 10(1) so not includes in total income. Please also provide nature of agricultural income because every income is not exempted. You can check no. of people in India filling ITR. It is not compulsory.
Lots of thanks to all of u sir for very clear view give to me
No need to file ITR
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