Each tax payer searches way to save his tax and get more net income. In practice, I have meet two kinds of people – one who doesn’t want to spend 1 Rs. on tax and another who asks me to calculate tax payable higher as possible. Here I am talking about first kind of
Agricultural income can give you tax advantage but you should know correct method for calculating tax.Learn how to calculate income tax liability when you have agricultural income. Step 1: Compute non agricultural income as if it was your only income. Step 2: Aggregate non agricultural income and agricultural income and compute tax on it.