banner_ad

Income tax applicability on cow milk

Others 1853 views 4 replies

Dear All,

One farmer bought 10 milking cows and he is selling milk to the soceity. Whether this income is agriculture income or not?

Replies (4)

its a agriculture income.

 

Diary farming comes under Agriculture Income. That does not mean you have not to file return. You have to file return and take the income as exempt. But if profits are invested in FDs etc then the int part  is taxed after the min limit. Again you invest in stocks and have STCg then again u r taxed. 

Hello
I am not agree with anyone 

 

Incomes which are not treated as Agriculture Income:

a. Income from poultry farming.

 b. Income from bee hiving.

 c. Income from sale of spontaneously grown trees.

 d. Income from dairy farming.

 e. Purchase of standing crop.

 f. Dividend paid by a company out of its agriculture income.

 g. Income of salt produced by flooding the land with sea water.

h. Royalty income from mines.

i. Income from butter and cheese making.

j. Receipts from TV serial shooting in farm house. -

Cultivation of land is considered as agriculture activity..

Cultivation of Land is a must: Some measure of cultivation is necessary for land to have been used for agricultural purposes. The ambit of agriculture covers all land produce like grain, fruits, tea, coffee, spices, commercial crops, plantations, groves, and grasslands. However, the breeding of livestock, aqua culture, dairy farming, and poultry farming on agricultural land cannot be construed as agricultural operations.

 

Dairy farming income is taxable...

I am working on dairy farming project... 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details