Land Sale Profit as Agricultural Income: Deduct from Book Profit in Income Calculation u/s 115JB.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....MAT - the profit on sale of the land has to be treated as agricultural income. Therefore, if any such income is credited to the Profit & Loss account, the same has to be reduced from the book profit while computing income u/s 115JB - AT....