Rice mill income

5030 views 13 replies
why it is not taxable under agricultural income... specify the line in incometax act... which makes it taxable
Replies (13)

Any processing done on Agricultural produce to make it marketable is a part of agricultural operations and such amount recovered will be treated as agricultural income only, with some exceptions.

But the business of purchasing paddy from the agriculturist and milling the same by the purchaser (rice mill owner) and, thereafter, dealing in the business of sale of rice is taxable.

Madhya Pradesh High Court

Commissioner Of Income-Tax vs Kisan Co-Operative Rice Mills ... on 4 August, 1975

Is there any provision in incometax act saying the same....
Is there any provision in incometax act saying the same....

It is clear from the Definition of agricultural Income

Exemption for rice mills is specified in the act ha...
Exemption for rice mills is specified in the act ha...
Exemption for rice mills is specified in the act ha...

Can you please post the section and text of the exemption?

U/ s 2(1A) agricultural income definition covers. (b)Any income derived from such land by agriculture operations including processing of agricultural produce so as to render it fit for the market or sale of such produce...... Rice mill also comes under processing of agricultural produce.. Then y rice mill income is taxable

Rice Mill income must be taxable in simple words because rice mills earn a lot of money and which should be taxable so the chain of exchanging money wont stop.

Regards
https://latifricemills.com/super-kernel-basmati-rice/
https://latifricemills.com/

Rice mill income should be taxable because of the the greator consumption of money produced by this business each year

thank you

 

If we didn't have tin number, rice mill will cease to exist?


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
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 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details