Head of income
This query is : Resolved
03 January 2015
Respected Expert,
My client is employee and having agriculture land, he is declaring salary income and agriculture income regularly. Now one more income is added i. e ., Sale of Sheeps and goats. All these process is taken care by him only.
Now my question is under which head it is considered?
My client is employee and having agriculture land, he is declaring salary income and agriculture income regularly. Now one more income is added i. e ., Sale of Sheeps and goats. All these process is taken care by him only.
Now my question is under which head it is considered?
03 January 2015
Cattles are considered as capital asset hence profit out of sale of cattles will be charged under capital gain
Message likes :
1 times
05 January 2015
It will be more appropriate to Gains from sale of goats and creep under other sources. rather than treating as capital asset
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Import license renewal
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
