dairy farm tax applicable details

[venkateshkona]

Hello,
in dairy farm, suppose if i earn Rs. 8 lacs profit frm my dairy farm, whether can i pay tax or not, if applicable what are the tax rrate.

i have to start the dairy farm my own or individually.

kindly suggest me.

 

[kirti s]

Hello Sir

India does not tax agriculture including dairy farming.

Profit earned on sale of milk to society is taxable income.

Dairy farming appears an attractive business especially for farmers having a quality and size of land (space) that can be used a center for Dairy Farming.

 

[niksnarayana]

Need more info

We supply our milk to Cooperative society, I was under impression that it is untaxable income, are you sure that supplying to cooperative like KMF is taxable income?

Nikhil

Hello Sir

India does not tax agriculture including dairy farming.

Profit earned on sale of milk to society is taxable income.

Dairy farming appears an attractive business especially for farmers having a quality and size of land (space) that can be used a center for Dairy Farming.