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Q.

Agri income are Tax free,upto which limit

Asked by Razia, 22 Apr '09 01:01 pm
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Answers (2)

1.

A I of Rs 50,000, which, when increased by Rs 50,000 becomes Rs 100,000 and a becomes tax-free
Answered by mansur abbas, 23 Apr '09 05:33 pm

 
  
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2.

1) Net income after taking all the benefits offered by Chapter VI-A (Sec. 80L, 80D, etc.) of Rs 100,000. Realise that for FY 04-05 and all subsequent years, income up to this level attracts no tax.

2) Agricultural income of Rs 50,000, which, when increased by Rs 50,000 becomes Rs 100,000 and also becomes tax-free
Answered by srikanth, 22 Apr '09 01:07 pm

 
  
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