Is dairy farm at rural village is taxable?
This query is : Resolved
07 July 2017
Dear Sir,
I want to set up a dairy farm at my own land in rural village in Telangana state with initial 10 animal capacity.
For this I am taking the help of investor who is investing for initial capital for mutual profit sharing. But he want me to register the firm so that we can enter into an agreement.
Please advice if I register my dairy farm, do i need to pay tax.
How can I get exempted from tax? As per IT rule, agriculture and allied activities are exempted and dairy comes into allied activity.
Pls advice the best way to avoid tax as mine is a small farm and also how to make agreement with investor so that both get confidence in our project
I want to set up a dairy farm at my own land in rural village in Telangana state with initial 10 animal capacity.
For this I am taking the help of investor who is investing for initial capital for mutual profit sharing. But he want me to register the firm so that we can enter into an agreement.
Please advice if I register my dairy farm, do i need to pay tax.
How can I get exempted from tax? As per IT rule, agriculture and allied activities are exempted and dairy comes into allied activity.
Pls advice the best way to avoid tax as mine is a small farm and also how to make agreement with investor so that both get confidence in our project
07 July 2017
dairy activity is taxable.......who told you that it is exempt?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Building tax payment deduction in rental Income
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
