Comments for Indian Tax Guide http://indiantaxguide.wordpress.com An initiation to get general public aware about Income Tax In India and also help people to satisfy their queries Fri, 13 Nov 2009 12:01:52 +0000 http://wordpress.com/ hourly 1 Comment on About by Viviek http://indiantaxguide.wordpress.com/about/#comment-80 Viviek Fri, 13 Nov 2009 12:01:52 +0000 #comment-80 Agricultural income iswholly exempt from income tax. It doesn't matter whether it is earned by an individual/firm/HUF/Company/AOP/BOI. Agricultural income iswholly exempt from income tax. It doesn’t matter whether it is earned by an individual/firm/HUF/Company/AOP/BOI.

]]> Comment on Public Provident Fund Account by Viviek http://indiantaxguide.wordpress.com/2009/05/08/public-provident-fund-account/#comment-79 Viviek Fri, 13 Nov 2009 12:00:25 +0000 http://indiantaxguide.wordpress.com/2009/05/08/public-provident-fund-account/#comment-79 no change in PPF no change in PPF

]]> Comment on Recent Amendments in Finance Bill 2009 by Viviek http://indiantaxguide.wordpress.com/recent-amendments-in-finance-bill-2009/#comment-78 Viviek Fri, 13 Nov 2009 12:00:00 +0000 http://indiantaxguide.wordpress.com/?page_id=60#comment-78 kindly specify full details of motor car. Whether it is provided by employer. If yes then some amount is taxable is perquisite. If its ur personal car then no deduction is available in respect of expenses as well as depreciation of motor car. kindly specify full details of motor car. Whether it is provided by employer. If yes then some amount is taxable is perquisite. If its ur personal car then no deduction is available in respect of expenses as well as depreciation of motor car.

]]> Comment on Wealth Tax by Viviek http://indiantaxguide.wordpress.com/2009/05/08/wealth-tax/#comment-77 Viviek Fri, 13 Nov 2009 11:58:20 +0000 http://indiantaxguide.wordpress.com/2009/05/08/wealth-tax/#comment-77 for exam purpose singhania is best. for exam purpose singhania is best.

]]> Comment on Agricultural Income by Viviek http://indiantaxguide.wordpress.com/2009/05/08/agricultural-income/#comment-76 Viviek Fri, 13 Nov 2009 11:57:39 +0000 http://indiantaxguide.wordpress.com/?p=50#comment-76 There is no higher limit for exemption of agricultural income . Full agricultural income is exempt from income tax. There is no higher limit for exemption of agricultural income . Full agricultural income is exempt from income tax.

]]> Comment on Agricultural Income by Viviek http://indiantaxguide.wordpress.com/2009/05/08/agricultural-income/#comment-75 Viviek Fri, 13 Nov 2009 11:48:37 +0000 http://indiantaxguide.wordpress.com/?p=50#comment-75 In your case income is earned in two parts . Ist is sale of fodder to animal farm and 2nd sale of milk to society. Profit earned on sale of fodder to animal farm will be agricultural income and will be exempt while profit earned on sale of milk to society is taxable income. Market price of fodder will be deemed to be the sale consideration received by u on captive consumption of fodder. Hope this satisfies u. In your case income is earned in two parts . Ist is sale of fodder to animal farm and 2nd sale of milk to society. Profit earned on sale of fodder to animal farm will be agricultural income and will be exempt while profit earned on sale of milk to society is taxable income. Market price of fodder will be deemed to be the sale consideration received by u on captive consumption of fodder.

Hope this satisfies u.

]]> Comment on Agricultural Income by Haamdh http://indiantaxguide.wordpress.com/2009/05/08/agricultural-income/#comment-74 Haamdh Thu, 05 Nov 2009 05:42:55 +0000 http://indiantaxguide.wordpress.com/?p=50#comment-74 Hi I'm in process of starting a 50 animal dairy farm, in partnership with a land owner (sleeping partner). I’m selling this milk to milk society (KMF). The land is about 15 Acers and I’m using about 10 Acers to grow fodder for these animals. Is this income tax exempted? Hi
I’m in process of starting a 50 animal dairy farm, in partnership with a land owner (sleeping partner). I’m selling this milk to milk society (KMF).
The land is about 15 Acers and I’m using about 10 Acers to grow fodder for these animals. Is this income tax exempted?

]]> Comment on Recent Amendments in Finance Bill 2009 by santhosh http://indiantaxguide.wordpress.com/recent-amendments-in-finance-bill-2009/#comment-73 santhosh Wed, 04 Nov 2009 15:32:49 +0000 http://indiantaxguide.wordpress.com/?page_id=60#comment-73 Can u pls send the ammendment list thanking you sir, santhosh kumar Can u pls send the ammendment list

thanking you sir,
santhosh kumar

]]> Comment on Agricultural Income by rahul http://indiantaxguide.wordpress.com/2009/05/08/agricultural-income/#comment-71 rahul Wed, 28 Oct 2009 13:26:11 +0000 http://indiantaxguide.wordpress.com/?p=50#comment-71 I have having agricultural income of Rs 3,00,000/- is there any higher limit for the exemption . and how to calculate the agricultural income while including with other sources . kindly tell me the details . I have having agricultural income of Rs 3,00,000/- is there any higher limit for the exemption . and how to calculate the agricultural income while including with other sources . kindly tell me the details .

]]> Comment on Agricultural Income by NITIN KUMAR http://indiantaxguide.wordpress.com/2009/05/08/agricultural-income/#comment-70 NITIN KUMAR Tue, 20 Oct 2009 13:43:41 +0000 http://indiantaxguide.wordpress.com/?p=50#comment-70 I GOT A GOOD ANSWER THANKS I GOT A GOOD ANSWER THANKS

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