• Taxes in Agri business

We are registered pvt Ltd agri company. just started 2 months back. Need clear understanding on exemption for agri business for Income tax & other taxes if any. secondly we have registered for PAN &TAN number. which are the other registrations required. We are in Dairy farming, goat farming, fruit plantation, wormi wash & fertiliser sale.
Please brief.

Seivale Patil
Asked 2 years ago in Income Tax from Pune, Maharashtra
Dear Mr. Patil,

If you have incone from agriculture activities, all that income will be taxfree. However, you have to categorise which income is eligible for agriculture income. Will surely check and revert to you.

Service tax registration may be required if you are also providing services.

Thanks and regards
CA Abhishek Dugar
Abhishek Dugar
CA, Mumbai
2929 Answers
123 Consultations

5.0 on 5.0

need to check and will get back to you
Shyam Sunder Modani
CA, Hyderabad
1408 Answers
95 Consultations

5.0 on 5.0

Dear sir,

Based on your list of nature of business your following income shall be 100% tax free

- Dairy Farming
- Goat Farming
- Fruit Plantation

With respect to other legal registration following details required :

- Registration with local agriculture society
- Registration with Sales Tax Department
- Commercial business registration certificate
- Service Tax Certificate

and other registration based on your transactions list. 

Also you will be eligible for many local as well as central subsidy and for the said purpose you need to get yourself registered.
Vishrut Rajesh Shah
CA, Ahmedabad
605 Answers
10 Consultations

5.0 on 5.0

Hello Mr. Patil,

You might have heard that income received from Agricultural business is exempt but technically its not. Some part of your agricultural income gets taxed if you have any source of income other than Agricultural Income.

Other than PAn, TAN you may also need a Fire Licence, Food License, Insurance for your Cattle, PT numbers for the Directors to start with.

Trust this clarifies your query. 

Feel free to get back/ call back in case of further details. 

Thanking You. 

Rohit R Sharma
Rohit R Sharma
CA, Mumbai
2104 Answers
91 Consultations

5.0 on 5.0

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