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exemption on agriculture

shailendra Singh (shailu) (34 Points)

11 September 2019

is goat farming and allied agriculture activity is eligible for emotion as per it act ?

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2 Replies

Kapadia Pravin (17249 Points)
Replied 11 September 2019

Goat rearing is not allied agriculture activity. And hence it's not falling under Agri income.

However I think Central / State Government provides subsidy on such activity.

You can inquire with local Govt Office about subsidy scheme.

Suresh Thiyagarajan (Student) (3986 Points)
Replied 11 September 2019

1. Goat Farming is not one of the activity specified under sec 10(1) and it will not fall under agricultural activity.
2. Hence any income earned on such income will be taxable as normal business income.
3. However, a subsidy can be obtained from the government. Approach the local municipality for availing benefits available under goat farming.
Please correct me if the above solution has an alternative view.