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Agricultural income

Chalanachithram.com DB » New TF Industry Related » Archive through November 12, 2016 » Agricultural income « Previous Next »
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Chatrapathi
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Posted on Thursday, November 10, 2016 - 11:24 pm:       


Gotcha:

kummu bayya kummu krishna dt lo 10 acres ante 10 * 50 lakhs, pandaga chesuko




naaku krishna dt or ekkada... 10 acres levu...nimma thotalu levu...edo doubt vachi adiganu ante....
 

Vjawarrior
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Posted on Thursday, November 10, 2016 - 11:09 pm:       


Reddit:


bro....vere vaalla gold loan banklo kattesi aa gold manam teesukunte emanna porblemaa?
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 10:55 pm:       


Reddit:

Remember one thing; if at all you're unlucky and lottery lo ne returns scrutiny kosam pick jesthe; for everything you'll have to submit valid documentary evidence. He said I said CA said won't work. IT guy will have full access to your bank statements and any other high ticket purchases or sales that you've done.

Hand loans avvi kuda they'll cross check with the person you gave/took. Vatiki rendu sides source lekapoyina ithade...




Telusu brother. Naa money tho nenu alane untanu. kaani mana DB lo antha ideal approach ante karisesthunnaru. so practical gaa konni savaranalu chepthunna
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 10:53 pm:       


Royal1234:

some part third party nundi direct buy and registered on wifes name, problem avtunda? what should happen next?




technically you will loose it. Practically emi avvaka povachu.
 

Royal1234
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Posted on Thursday, November 10, 2016 - 10:36 pm:       


Wellsfargo:

you are fine. Inheritence aithe.




some part third party nundi direct buy and registered on wifes name, problem avtunda? what should happen next?
 

Reddit
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Posted on Thursday, November 10, 2016 - 10:30 pm:       

Remember one thing; if at all you're unlucky and lottery lo ne returns scrutiny kosam pick jesthe; for everything you'll have to submit valid documentary evidence. He said I said CA said won't work. IT guy will have full access to your bank statements and any other high ticket purchases or sales that you've done.

Hand loans avvi kuda they'll cross check with the person you gave/took. Vatiki rendu sides source lekapoyina ithade...
Don't compare your weaknesses to someone else's strengths.
 

Reddit
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Posted on Thursday, November 10, 2016 - 10:24 pm:       


Wellsfargo:

lakh to 1.5 lakh per acre ki ee certificate akkarledu antunnaru.


even if it's 10k you need this certificate. Scrutiny padithe you have to submit this certificate to claim agriculture income.
Don't compare your weaknesses to someone else's strengths.
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 10:11 pm:       


Reddit:

Agricultural Income Certificate ani vuntadi which you've to take from sub-register office/vro/meeseva .. anthe kaani evariki istam vachina amount vallu declare cheyyakudadu




1 lakh to 1.5 lakh per acre ki ee certificate akkarledu antunnaru.
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 10:09 pm:       


Royal1234:

hole lo vestara?




you are fine. Inheritence aithe.
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 10:08 pm:       


New_user:

Job lo vachche 10 lakhs ki tax kadathavu. Agri meeda vachchina 30 lakhs ki tax undadu.




Not exactly. For these numbers you will pay 1.25 lakhs of extra tax.
 

Reddit
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Posted on Thursday, November 10, 2016 - 09:48 pm:       

Agricultural Income Certificate ani vuntadi which you've to take from sub-register office/vro/meeseva .. anthe kaani evariki istam vachina amount vallu declare cheyyakudadu
Don't compare your weaknesses to someone else's strengths.
 

Royal1234
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Posted on Thursday, November 10, 2016 - 04:38 pm:       


Wellsfargo:

India lo enti? Meeru america lo untara? FEMA kinda modatike mosam vasthadi. You should not own agricultural property if you are a NRI or PIO




Please help:
--
ee yr family division done, polam naa peru transferred, 2007 nundi H1B . Kooli doing here in US, maa wife ki peilli ki mundi kontha, last yr kontha polam registered, 2011 nundi US lo H4.

--
hole lo vestara?
 

New_user
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Posted on Thursday, November 10, 2016 - 04:29 pm:       


Chatrapathi:

for ex manaki 10 lakhs per year income vache job undi....inka per year ki 30 lakhs agri income vaste tax enta paduthundi..agri income 30 lakhs ki




Job lo vachche 10 lakhs ki tax kadathavu. Agri meeda vachchina 30 lakhs ki tax undadu.
"Clean birth" tho discuss cheyalsi vachchina roju na DB nundi retire avutha...
 

Gotcha
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Posted on Thursday, November 10, 2016 - 04:18 pm:       


Chatrapathi:


kummu bayya kummu krishna dt lo 10 acres ante 10 * 50 lakhs, pandaga chesuko
...
 

Chatrapathi
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Posted on Thursday, November 10, 2016 - 03:07 pm:       


Wellsfargo:




for ex manaki 10 lakhs per year income vache job undi....inka per year ki 30 lakhs agri income vaste tax enta paduthundi..agri income 30 lakhs ki
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 02:59 pm:       


Chatrapathi:

for ex naaku 10 acres unnayi anuko...anudulo nimma thota veste...acre ki per year 3 lakhs income vaste...total 30 laksh ki tax enta paduthundi....?




emi padadu if you are able to prove that 1 acre of nimma thota gives an yeild of 3 lakhs per year after all costs..
 

Chatrapathi
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Posted on Thursday, November 10, 2016 - 02:50 pm:       


Wellsfargo:




for ex naaku 10 acres unnayi anuko...anudulo nimma thota veste...acre ki per year 3 lakhs income vaste...total 30 laksh ki tax enta paduthundi....?
 

Xxx
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Posted on Thursday, November 10, 2016 - 02:32 pm:       


Wellsfargo:

You should not




ancestral property
-
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 02:31 pm:       


Saarang:

Ippudu land lekunda, kavulu chese vallu kooda emi returns cheyyakarledha?




akkarledu
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 02:30 pm:       


Gotcha:

india lo vere income undadu except this ani chupiste ok na?




India lo enti? Meeru america lo untara? FEMA kinda modatike mosam vasthadi. You should not own agricultural property if you are a NRI or PIO
 

Saarang
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Posted on Thursday, November 10, 2016 - 02:05 pm:       

Ippudu land lekunda, kavulu chese vallu kooda emi returns cheyyakarledha?
 

Gotcha
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Posted on Thursday, November 10, 2016 - 02:05 pm:       


Wellsfargo:


india lo vere income undadu except this ani chupiste ok na?
...
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 02:04 pm:       


Gotcha:

what if I started showing the income from this year onwards, there will be no tax but every year nenu 30 lakhs cash to deal cheyavachu flowing into my account aa? idi super undi kada process.




vere income emi leda?
 

Biriyani
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Posted on Thursday, November 10, 2016 - 02:03 pm:       


Gotcha:

deal cheyavachu flowing into my account aa? idi super undi kada process.



Wellsfargo:

n this case if it exceeds 1.5 Lakhs, you need to show the details of crop planted, crop yeild and the sale receipts.




proofs produce cheyyalante kastam kadaa...inni rojulu though rule was there..was never enforced strcitly..ippatinunchi strict ga chestharu kabatti..will be tough to produce proofs
Please reach out to me for Pulihora recipe!!
 

Gotcha
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Posted on Thursday, November 10, 2016 - 01:58 pm:       


Wellsfargo:


what if I started showing the income from this year onwards, there will be no tax but every year nenu 30 lakhs cash to deal cheyavachu flowing into my account aa? idi super undi kada process.
...
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 01:56 pm:       


Gotcha:

suppose naaku oka 20 ekaralu unte enta income varaku chupinchavachu bayya?




30 lakhs. But

1. Provided you are showing similar income in the previous 3 tax years or
2. you don't have any income other than agri income.
 

Gotcha
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Posted on Thursday, November 10, 2016 - 01:47 pm:       


Wellsfargo:


suppose naaku oka 20 ekaralu unte enta income varaku chupinchavachu bayya?
...
 

Saarang
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Posted on Thursday, November 10, 2016 - 01:44 pm:       


Wellsfargo:

Saarang:

Is that 30 lakhs per year?

That was more of wealth assessment. It was sum of gold, cash at hand and few other things. every year you had to file if your net assets were more than 30 lakhs. 2015 budget lo Jaitley sir removed it.




Ok, thanks.
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 01:43 pm:       


Saarang:

Is that 30 lakhs per year?




That was more of wealth assessment. It was sum of gold, cash at hand and few other things. every year you had to file if your net assets were more than 30 lakhs. 2015 budget lo Jaitley sir removed it.
 

Saarang
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Posted on Thursday, November 10, 2016 - 01:39 pm:       


Wellsfargo:



It is clean for them. enthaina deposit chesukovacchu. 50 years nundi bangaram pandisthunna ani cheppi.

2014 end daka unna wealth tax limit was 30 lakhs. so more than 30 lakhs before 2014 vacchinttu choopaleru




Is that 30 lakhs per year?
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 01:37 pm:       


Saarang:

Whats the rule for people with only agricultural income...which is most people living in villages?




It is clean for them. enthaina deposit chesukovacchu. 50 years nundi bangaram pandisthunna ani cheppi.

2014 end daka unna wealth tax limit was 30 lakhs. so more than 30 lakhs before 2014 vacchinttu choopaleru
 

Saarang
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Posted on Thursday, November 10, 2016 - 01:32 pm:       

Whats the rule for people with only agricultural income...which is most people living in villages?
 

Wellsfargo
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Posted on Thursday, November 10, 2016 - 01:27 pm:       

Just to clarify on whether you can use your cash at hand as agricultural income. For small amounts it is okay. Though agricultural income is not taxed in India, it should be declared in your IT returns if you file your IT returns for other income. so you can't say this is your agricultural income from prior years.

computation is given below
http://www.livemint.com/Money/Ta33tecZhmp4UrUV0JKzWJ/Agricul tural-income-taxable-under-certain-conditions.html

So the only option left is agricultural income from the current year after Mar 31. In this case if it exceeds 1.5 Lakhs, you need to show the details of crop planted, crop yeild and the sale receipts. this rule was there from a long time.

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