i have a shed in an industrial gala in bhivandi (maharashtra) i m starting banana ripening system. i m a farmer, and i will buy the banana from other farms and then ripen it and then sell it will this process invite income tax?
suppose if i was not a farmer then will it invite income tax?
The income shall be taxable as business income. The above mentioned income cannot be considered as agricultural income.
Regards,
Devendra K
RMA And Associates LLP
New Delhi
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