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Does an agriculture company have to pay taxes.

This query is : Resolved 
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(Querist)
29 July 2013 Does an agriculture company have to pay Taxes.
Company deals in products like crops, floriculture, horticulture, organic farming , dairy and vegetable oils.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
31 July 2013 Yes if they have other income like interest and trading in agricultural products. There will be rebate for agricultural and non agricultural income. Now, it depends if the company is a Private Limited or Public Limited. You have to consider the provisions of Section 115JB and so on for MAT this is disputed matter for agricultural or horticultural.

Diary is not included as income from agricultural so it is covered in the above para of my this reply.
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