Agri income for computing limit of 50 lacs

[Ramakrishna Nune]

Whether agriculture income is to be included while calculating limit of ₹ 50 lacs for disclosure of assets of individual. Thanks in advance

AI Summary

Agricultural income may be treated as part of an individual's asset-disclosure threshold despite its tax-exempt status.
The query asks whether agricultural income must be included in computing an individual's asset-disclosure limit. The expert view states that agricultural income, though tax-exempt, is disclosed in the income tax return and therefore should be counted for the purpose of the asset-disclosure calculation.