Dear all
my client has running business since last 7 years he has received notice regarding non filing income tax he has 30-40 lakh turnover pa wheather it is liable to pay tax or it is covered under agricultural income
Unless he is growing the flower and selling in market, it will be taxable. The trading of flower can be assessed u/s. 44AD, and the assessed income for 30 lakhs TO will be below taxable limit.
CAclubindia
