milk vendor income is business income?
This query is : Resolved
18 January 2011
sir one house wife having 4 buffalos (cows). daily give each buffalos 3 lt to 5 lts a half day. later rate 34/- approx she give details 4x4x2x32x30x8=245760/- 4lts 4 buffalos day 2 times 32 per lt 30 days 8 months her income from milk selling is taxable income? can required itr 4 and under business and profession. it is agricultural income is expected?
18 January 2011
It is not at all agro Income as the defination of Agro Income given in section 2)1A), does not include any income from animals.... But I will consider it as business Income taxable under PGBP
19 January 2011
sir
a lot of thank u sir
very fast and quick reply
so many thanks u sir
i feel very happy your response.
good night sir
a lot of thank u sir
very fast and quick reply
so many thanks u sir
i feel very happy your response.
good night sir
19 January 2011
the same should be treated as business income.
Message likes :
1 times
19 January 2011
thank you sir
20 January 2011
This is business income and u can claim expenditure of mainatining animals also out of total gross receipts
Message likes :
1 times
20 January 2011
Agreed with all u have to file itr4. but the same income is tax free under vat.
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
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
