UNDER WHICH HEAD SALE OF SANDAL TREE INCOME IS CHARGEABLE?
This query is : Resolved
26 March 2011
CAN ANYONE TELL ME THAT, "SALE OF SANDAL WOOD TREE TO GOVERNMENT, AND RECEIVED AN AMOUNT OF RS.105000, IS THIS AMOUNT SHOULD TREATED AS AGRICULTURE INCOME OR TO BE CONSIDERED UNDER ANY OTHER HEADS OF INCOME?"
CONSIDER THE FOLLOWING POINTS ALSO
*TREE WAS NOT GROWN IN AGRICULTURE LAND.
*GROWTH OF TREE WAS NOT SPONTANEOUS
CONSIDER THE FOLLOWING POINTS ALSO
*TREE WAS NOT GROWN IN AGRICULTURE LAND.
*GROWTH OF TREE WAS NOT SPONTANEOUS
CA. Lohith Jagadeesh
(Expert)
27 March 2011
Hi,
Considering your points, in My opinion it should be treated as income under the head " Profits or Gains of Business or Profession "
Thank you
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Considering your points, in My opinion it should be treated as income under the head " Profits or Gains of Business or Profession "
Thank you
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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