A field experiment was conducted at All India Coordinated Wheat Improvement Project, University of AgriculturalSciences, Dharwad during rabi seasons of 2008-09 and 2009-10. The treatments consisted of three levels of leaf colour chart (LCC) (< 3, < 4 and < 5), three levels of nitrogen (10, 20 and 30 kg ha-1 per top dressing), two method of application (with basal and without basal) and two controls (Recommended dose of nitrogen and zero nitrogen). The experiment was laid out in Randomized Complete Block Design with factorial concept with three replications. Nitrogen management through LCC < 5 recorded significantly higher grain yield (44.40 q ha-1), straw yield (70.16q ha-1), protein content (13.41%), b-carotene content (3.49 ppm), sedimentation value (26.24 ml), gross income (` 79917 ha-1), net income (` 57744 ha-1) and B:C ratio (3.61) ascompared to LCC < 4 and < 3. LCC < 5 with top dressing @ 20 kg ha-1 and basal application (L3N2M1) recorded significantlyhigher grain yield (48.62 q ha-1), straw yield (76.14 q ha-1), protein content (13.88%), b-carotene content (3.67 ppm),sedimentation value (27.70 ml), gross income ( ` 87510 ha-1), net income (` 65040 ha-1) and B:C ratio (3.90) than othertreatment combinations including two controls (RDN and Zero nitrogen), but remained at par with LCC < 5 with top dressingof nitrogen @ 30 kg ha-and basal application (L3N3M1).