I want to set up a dairy farm at my own land in rural village in Telangana state with initial 10 animal capacity. For this I am taking the help of investor who is investing for initial capital for mutual profit sharing. But he want me to register the firm so that we can enter into an agreement. Please advice if I register my dairy farm, do i need to pay tax. How can I get exempted from tax? As per IT rule, agriculture and allied activities are exempted and dairy comes into allied activity.
Pls advice the best way to avoid tax as mine is a small farm and also how to make agreement with investor so that both get confidence in our project
CAclubindia
