Hi,
I have some land in village which I have rented out for agricultural purpose. I have some other source of income also which I haven't disclosed to government.
According to IT rules, income from agricultural land is exempted from Income Tax. So my questions are:
1) What is the maximum limit of agricultural income which I can claim for exemption?
2) Can I show the other source of income also as agricultural income and avoid Income Tax?
3) Can I face any risk in the future. If yes, how.
Please advise!!
Sourabh
