INCOME FROM DAIRY FARMING

Dear Sir,

Cattle/Livestock is treated as a special item & instead of depreciation the amount spent on them is allowed as follows u/s 36-

(vi)   in respect of animals which have been used for the purposes of the business or profession otherwise than as stock-in-trade and have died or become permanently useless for such purposes, the difference between the actual cost to the assessee of the animals and the  amount, if any, realised in respect of the carcasses or animals;

For business/profession ITR IV will be required.

Regarding code - I m not sure but I think u can use "others (0124)" under Manufacturing sector 

Books as per Sec 44AA will be requied if ur gross receipts are in excess of Rs. 10 Lakhs or Ur Income from business exceeds Rs. 1.20 Lacs......

THANKS

Dear Amir Bhai, you are absolutely correct as usual....

One of our client is also into the same business and he is using others - 0124.

 sir please provide detail about section 36 regarding special item and its treatment and if a person runs a business of sole propriotership then what will the treatment regarding livestock