My Life, My Decisions
                                                 (A Life Time Decision)

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The future depends on how we plan the present.If the planning and decisions are right, the future is definitely good.              ...A renowned Economist.

Tax Computation for Agriculturists/Farmers:



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Agriculture income is exempt under the Indian Income Tax Act. This means that income earned from agricultural operations is not taxed. The reason for exemption of agriculture income from Central Taxation is that the Constitution gives exclusive power to make laws with respect to taxes on agricultural income to the State Legislature.
However while computing tax on non-agricultural income agricultural income is also taken into consideration.



Income from farming or agricultural income is exempted from Income Tax. However, it may be noted that:




What does the term Agricultural Income mean? As per Income Tax Act income earned from any of the under given three sources meant Agricultural Income:


N.B.:

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