Tax liability on trading of agricultural goods

HIMANSHU JOSHI (ARTICLE) (194 Points)

02 August 2016  

I want to know the tax treatment of profit on trading of goods

My client is purchasing the agricultural produce from the farmer and sold such produce to the market after adding their commission

Now my question is whether such profit is taxable or exempt??

In my opinion, it is taxable.

Another query - whether sale of seeds from such agricultural produce is taxable or exempt??