Question

explain about taxable income,exempted incomes ,rebatable incomes, agriculture incomes​

Answer 1

As per Section 10(1) of the Income Tax Act, 1961, agricultural income is exempted from taxation. ... Total income, excluding net agricultural income, surpasses the basic exemption limit (Rs. 2,50,000 for individuals below 60 years of age and Rs. 3,00,000 for individuals above 60 years of age).