Dairy business code in income tax
For an income tax return in India, the business code for a dairy business depends on whether the activity is dairy farming, manufacturing dairy products, or selling them wholesale or retail.
Business codes for dairy activities under :AGRICULTURE ANIMAL HUSBANDRY AND FORESTRY:
Dairy Farming
- 01009: Rearing of animals and production of animal products. This applies to the primary activity of raising cattle for milk production.
- 01010: Agricultural and animal husbandry services.
Business codes for dairy activities under Manufacturing
04005: Manufacture of dairy products.
This is used for businesses that process milk into products like cheese, paneer, and butter
Business codes for dairy activities under Wholesale or Retail Trading
- 09007: Wholesale of food & beverages and tobacco. This code is appropriate for wholesalers who buy and sell large quantities of dairy products.
- 09021: Retail sale of food, beverages and tobacco in specialized stores. This applies to retail shops that sell milk and other dairy items.
Important considerations
- Taxability: Unlike traditional agricultural income, income from dairy farming is fully taxable.
- Official confirmation: To ensure you are using the most current and specific code for your exact business model, you should always consult the official list provided by the Income Tax Department on its e-filing portal