08 March 2013
Dear Sir, I was purchased 250 buffalowes and sale of raw millk to the local customer and sumul dairy. so i want to know that it is agricultural income or not and tax liabilites aries or not? please reply as earliest as possible.......
08 March 2013
Sale of raw milk will not fall under agriculture income to enjoy the exemption from tax. Therefore, it is a taxable income liable to tax.
CAclubindia
