income from sale of milk, agriculture income & business income
This query is : Resolved
Anuj verma
(Querist)
12 January 2017
R/all,
one of my Frnd having income in F.Y 2015-16 as per following-
income from sale of milk- 170000 Approx
income from Tution- 180000 Approx
Agriculture income- 200000 Approx
what will be tax liability of having deductible us 80 C is Rs- 8000 only.
will the income from sale of milk be treated as agriculture income or business income
please suggest
CA SAGAR M. AHUJA
(Expert)
12 January 2017
Income From Sale of Milk is not an Agriculture income as per Income Tax Provisions.
Thanks.
Thanks.
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