Tag: exemption

Agricultural income exemption as per Income tax act

Agricultural income are exempted as per Income tax act u/s 10(1) Calculation of Agricultral Income Exemption under the Income Tax Act 1961: Two conditions which need to satisfied for partial integration are: 1. The net agricultural income should exceed 5,000 for the year and 2. Non-agricultural income should exceed the maximum amount not chargeable to