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taxation of income from sale of milk

This query is : Resolved 

06 December 2016 income from sale of milk whether taxable as businesses income or other income and if taxable as businesses income how accounting entry would be passed in books as the assesse have cows which is a source of milk for the assesse and how to show cows as assets in books

07 December 2016 Business Income. Cows are Biological Assets and should shown in Balance sheet accordingly



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