Head of income
This query is : Resolved
MANJUNATHA
(Querist)
03 January 2015
Respected Expert,
My client is employee and having agriculture land, he is declaring salary income and agriculture income regularly. Now one more income is added i. e ., Sale of Sheeps and goats. All these process is taken care by him only.
Now my question is under which head it is considered?
My client is employee and having agriculture land, he is declaring salary income and agriculture income regularly. Now one more income is added i. e ., Sale of Sheeps and goats. All these process is taken care by him only.
Now my question is under which head it is considered?
03 January 2015
Cattles are considered as capital asset hence profit out of sale of cattles will be charged under capital gain
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CA Kumar Mukesh
(Expert)
05 January 2015
It will be more appropriate to Gains from sale of goats and creep under other sources. rather than treating as capital asset
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