Tax Free Business in India 2010: Business with Tax Exemption in India
Question: I would like to know what are the businesses in India which has income tax Exemption?
Answer: The business related to agricultural product and products attracting rural welfare and environment, because these businesses are helped by governments as well as international organizations.
Now the other aspects of the type of business we discussed above are that whole profit derived from the above business is 100% exempt from taxation.
Even you can carry forward the loss incurred during the year to the following years infinitely, there is no limit as to how many years you can carry forward your loss.
So that is good on one part that if during the initial year you business do not earn much or incur loss then you can set off the loss and carry forward the loss to subsequent assessment year.
Second benefit that government has given is a venture can consider the entire capital expenditure incurred as revenue expenditure and claim in his profit & loss account for income tax purpose, which is nice thing actually thereby you can save tax amount on your profit to the extent of such capital expenditure.
The above kind of business are too less and there is so much opportunities and scope for new ventures like you. The above benefits will definitely gain your business to grow and expand in future, initially you may face some difficulties in getting returns but in long run it will really prove to be beneficial.
If you have any questions regarding to this, you can ask your questions here.
Nice tips, can you also share jobs or work in India that are tax free, I am looking for some employment in India that do not require me to pay any taxes.
Reply This Comment
I would like to suggest one more business that is tax free in India is business of agriculture and its related products. What I am looking for is, if want to start an agricultural product business, what is the process of registration and what kind of products come under agriculture related products.
Reply This Comment
I am a C.A student and you are providing very nice and quality information. This is a very beautiful and nice website. IO would like to read more on the TAX subject.
Reply This Comment
Scott Wilson Reply:
June 11th, 2010 at 9:41 am
Mr. Sohil,
That’s great. It is pleasant to read that you are happy with my posts and I will continue the quality posts. What exactly you would like to read about it? You just tell me what do a you want to read.
Thank you.
Reply This Comment
I want to know about the business related to agricultural product, how i can start this business & to whom i should contact.
please help me
rajesh
9717847432
Reply This Comment
Scott Wilson Reply:
June 12th, 2010 at 7:27 am
Mr. Rajesh,
There are many business lines to start which can help you save tax and related to agricultural. if you have some business options, you just tel me so that I can guide on that. Detailed information will be written if you express some ideas.
Thank you.
Reply This Comment
Thanks for your reply,
First of all Please tell me beining expences, i have no land, How i can get land for agricultural business. To whom can contact & how.
Reply This Comment
Scott Wilson Reply:
June 14th, 2010 at 6:35 am
Mr. Rajesh,
To get the agricultural land you have to be a farmer community to gain the benefits of taxation. More on this, you can contact the local authority and inquire in details about the same. If you are interested in starting something on your own, you really have to be alert about this.
Thank you.
Reply This Comment
rajesh kumar Reply:
June 14th, 2010 at 11:40 am
Thanks,
What do you suggest for agricultural business or in the same field with minimum investment.
rajesh
Reply This Comment
Kindly elaborate on the Environmental sector opportunities and the types of business one can take up in this category.
Thanks.
Reply This Comment
Scott Wilson Reply:
June 14th, 2010 at 6:32 am
Mr. Zaheer,
there are many business which are called eco-friendly businesses. To help these business, government helps by the way of tax holly days and other tax benefits. Government has declared a huge amount of fund to finance the eco-friendly products.
Specially in fertilizers, government gas declared a special package to improve the sector of particular fertilizers which are eco-friendly and fruitful.
Reply This Comment
sir,
what are the Agricultural product business
Reply This Comment
Scott Wilson Reply:
June 15th, 2010 at 2:15 am
Mr. SF,
There are so many products related to this line. It can be food processing unit, seeds of wheat, oil processing unit, export of grains, dairy products, fertilizers, pesticides, transportation for agriculture etc.
There are many other lines too. You can do farming as well. You can start cropping and be a modern farmer.
Thank you.
Reply This Comment
T N Reply:
August 4th, 2010 at 6:53 am
Sir, could you please elaborate more about other products and services to go for in agricultural sector and about some new opportunities, relating to environmental sector (both services and products)
Reply This Comment
Great site that motivates everyone.
Reply This Comment
Dear Sir,
myself and my friend planning to start a small scale business in Tamilnadu ( Chennai or Trichy ). i like to know more details about the current market situation, which product is in high demand, which industry we can survive. i need your guidance and advice
Reply This Comment
Scott Wilson Reply:
June 18th, 2010 at 4:30 am
Mr. Vijaykumar,
There is a special post related to the small scale business, market analysis and the situation of current market situation. So just read the comments and the posts, you will get the idea. If you have any other questions, you can ask your questions.
The link is http://www.professionz.com/in/jobs-in-india/how-to-start-a-small-business.html
Thank you.
Reply This Comment
vijayakumar Reply:
June 19th, 2010 at 1:24 am
Dear Sir,
thank you for your kind suggestion. i kindly request you to consider about business opportunities in Chennai also.
Reply This Comment
Leave your response!
Recent Posts
Subscription Options:
Recent Comments
Related Posts
Categories
Most Commented