Dairy Form in Partnership firm - reg
Querist : Anonymous
Please suggest me on,
iam going to start a dairy form, with the investment of 10Laksh (Bank Loan 5 Laksh)
my query is,
1) is it necessary to file income tax if it is a partnership firm
2) should we maintain the recored for it
reg,
sambasiva rao
However, if the turnover does not exceed Rs 60.00 lac, then you can show income U/s 44AD. In such case it is not compulsory to maintain the regular books of account.
Querist : Anonymous
thank you very much for the quick reply,
and i have another query,
what is the rate of income tax in the dairy for and is there any exception on it.
reg,
samba
No exception for Dairy Farming firm.
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