ITR 3 for Business Income
Show agriculture income in exempt income schedule.
1. ITR 3 will be applicable.
2. Business code for business related agriculture income is "01010"
3. Agricultural income must be shown under exempted income under section 10(1).
4. Total tax liability will be nil for the person since he is eligible for rebate of Rs.2500 under section 87 A.
CAclubindia
