Category Archives: Finance

Treatment of Taxation for “Agriculture Income” – Complete Guide

By | 11/21/2018

Major Portion of Indian Economy includes “Agriculture portion”. What would be the treatment of taxation for agriculture income? Most of the people still including farmers are unaware of the taxation system and ignore to fill income tax return. Although Agriculture income is exempt under section 10(1) of the Income-tax Act. Income incurred from agriculture up to ₹ 5000… Read More »

Mistake rectification under section 154 of income tax act.

By | 10/06/2018

You are a taxpayer, it doesn’t mean you only make mistakes, sometimes the Income-tax department also makes mistakes. In this article, we will learn about mistake rectification under section 154 of income tax act. Before moving ahead: What is Section 154 of Income Tax Act? Income tax rectification has executed both ways from the individual (taxpayer) or by… Read More »