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Poultry firm

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(Querist)
06 September 2018 Dear , My friend have poultry firm of hen and pig. He sell these animals in market.
Under what head to be shown in balancesheet these animals.
Secondly whch business code to select in ITR.
And whether it is busines or agriculture income
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
06 September 2018 Show it in balance sheet under live stock head.
01009 Rearing of animals and production of animal products.
It's business income not agricultural income.
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RONI

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RONI (Querist)
07 September 2018 Sir, livestock can be shown in pl
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RONI

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RONI (Querist)
07 September 2018 Sir, livestock can be shown in P& L
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 September 2018 Live stock can't be shown but their expenses can be shown.
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