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Tax implication on farmer

(Querist) 01 May 2012 This query is : Resolved 
Hi,

If a farmer is doing farming along with business then what would be the income tax implication on him.

Does he need to pay tax for his business profits.

Could you please advise.
Report Abuse
A V Vishal (Expert) 01 May 2012
His agricultural income has to be clubbed with his business profits for purpose of determining the tax slab and taxed accordingly after deducting the tax on agricultural income.
Suhail A.Siddiqui (Expert) 01 May 2012
No doubt business Income is taxable and required to file I.T. return.further as Mr.Vishal advised.
Sunil Dhayani (Querist) 02 May 2012
Many thanks Vishal and Suhail.
Shonee Kapoor (Expert) 02 May 2012
Business income would be taxable.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

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