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
CAclubindia
