Tax implication on farmer
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2012
Hi,
If a farmer is doing farming along with business then what would be the income tax implication on him.
Does he need to pay tax for his business profits.
Could you please advise.
If a farmer is doing farming along with business then what would be the income tax implication on him.
Does he need to pay tax for his business profits.
Could you please advise.
01 May 2012
Yes he has to pay tax on business income. Although,his agricutural income is exempt but still it has to be considered for determination of slab.
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 May 2012
Many thanks Ramiz.
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
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- 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?
Trending Online Classes
CAclubindia
