Agreeculture income or business income
This query is : Resolved
12 February 2019
A client works to sell green grass. He buys the green grass from his own farm and from other farmers. He sells green grass in cash to locals and Gaushala
My question is that this work will be taxable in the business income in the income tax or agriculture income.
Annual turnover of Rs 25 lakhs
My question is that this work will be taxable in the business income in the income tax or agriculture income.
Annual turnover of Rs 25 lakhs
13 February 2019
it shall be business income in my opinion and your client does not involve in cultivation activities but doing trading of agricultural products.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ADVANCE PAYMENT OF ADVOCATE
- Unregistered suppliers utility
- NRI starting business in India
- ITDS U/S.194T of Firm
- Capital gain on sale and purchase of plot
- GST not cancelled by tenant
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- CREDIT NOTES WITHOUT GST
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
