ITR Business code for Mandi Aarthi

What should be the business code in itr for mandi aarthi (buying potato from farmer and selling it in market)?

And what should be the nature of income, i.e. Commission income or trading income or something else?
Replies (5)
Quick Summary
This discussion clarifies the appropriate Income Tax Return (ITR) business code and nature of income for individuals operating as Mandi Aartis, specifically those buying potatoes from farmers and selling them in the market. The consensus points towards 'Trading Income' with business code '09006', depending on whether the individual purchases produce outright or acts solely as a commission agent. Payment methods also influence the classification.

Whether he is just commission agent, or purchases outright from farmers.

Check the payment style.

He sells and receives in bank and then withdraw and pays to farmers in cash

1. Trading income

2. Code '09006'.

Ok sir, thanks

You are welcome.                

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