Income Tax Return
dhiren bole (127 Points)
05 July 2018dhiren bole (127 Points)
05 July 2018
KOUSHAL JAIN
(Chartered Accountant)
(471 Points)
Replied 05 July 2018
ITR 3 for Business Income
Show agriculture income in exempt income schedule.
Shubha M
(Student)
(135 Points)
Replied 05 July 2018
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 05 July 2018
Anjali P Nair
(ACA,ACMA)
(582 Points)
Replied 05 July 2018
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.