Is income from flowers business exempted from tax

668 votes

There is no such specific exemption granted under the income tax act. Such business is taxable and would require filing of tax return , tax audit etc. You can claim deduction of the expenditure incurred in such business and pay taxes on profits.

Advocate Abhimanyu Jhamba LawRato

901 votes

Hi Arjun, Thanks for your message. Please get intouch with me and I shall explain you the entire concept as it is quite long. Thanks. My contact details are available on this online and also on this website.

LawRato LawRato

708 votes

There is no exemption for a flowerist under income tax act. However, a flowerist provind its service can get Small scale industy (SSI) exemption under service tax, but there is no specific exemption for flowerist under income tax act.
The nature of the entity providing services is a contributing factor to get other exemptions.

Advocate Deepak Thackur LawRato