Income from sapling/seedlings
This query is : Resolved
10 August 2014
I have just read that income from sapling/seedlings grown in nursery is considered as agricultural income. But if it is carried on as a trade it will be taxable under PGBP. Please explain when will it be considered as agricultural income? If I sell it'll be taxable then how do I generate agricultural income?
11 August 2014
the actual owner of nursery will get the exemption. those buying from nursery and sell it in retail shall be considered as trading and taxed as PGBP
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