Agriculture
This query is : Resolved
30 January 2015
hi I have one doubt one of my client have 20 cow's and doing milk business (milk man) in home town they earned yearly more then 14 lakhs ( gross income)for selling milk and allied product and after deduct all expenses they earned 3 to 4 lakhs . my question is it's 'll come under agricultural business ???? plz clarity me for IT purpose
CA NAVEEN SINGLA
(Expert)
31 January 2015
Income from Dairy Farming is not Agriculture Income as per Income Tax Act 1961.
All Income would be taxable.
All Income would be taxable.
Rupesh Jain
(Expert)
31 January 2015
no its not the agriculture income.
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