Agricultural Income

Tax queries 842 views 4 replies
User Avatar

Salaried
179 Points Joined July 2008
HI 1. Income from Poultry business comes under which head of Income? 2. If a PUBLIC LIMITED COMPANY involved in agricultural business, whether income from that business will be treated as agricultural income and whether it is exempted from Income tax?
Reply Share Follow
On 25 February 2010 at 13:39 Report
Replies (4)
User Avatar

employed
2574 Points Joined May 2008

Poultry business is taxable under profits and gains of business...

 

Agricultural income is exempt for all assessees, if it is derived in India. However, if composite income is derived, a certain percentage will be taxable, and the rest is exempt.

Reply
On 25 February 2010 at 13:49
User Avatar

employed
2574 Points Joined May 2008

Poultry business is taxable under profits and gains of business...

 

Agricultural income is exempt for all assessees, if it is derived in India. However, if composite income is derived, a certain percentage will be taxable, and the rest is exempt.

Reply
On 25 February 2010 at 13:50
User Avatar

Learner
1867 Points Joined October 2008

Dear Bala..........please clarify your queries......

Agricultural income of a Co. is exempt from tax..............No integration for companies........

and Poultry income i think Business income....

Reply
On 25 February 2010 at 20:39
User Avatar

Research Analyst
360 Points Joined March 2007

thanks balaji

Reply
On 26 February 2010 at 20:44


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading