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Tax Free Business in India 2010: Business with Tax

Exemption in India
June 9, 2010 22 Comments

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.

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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.

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22 Comments »
Umash said:

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.

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# 10 June 2010 at 2:55 pm

SF said:

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.

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# 11 June 2010 at 3:16 am

Sohil Soni said:

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.

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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

# 11 June 2010 at 7:30 am

Rajesh Kumar said:

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

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9717847432

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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.

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# 12 June 2010 at 1:46 am

Rajesh Kumar said:

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.

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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.

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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

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# 13 June 2010 at 12:26 am

Zaheer Ahmed said:

Kindly elaborate on the Environmental sector opportunities and the types of business one can take up in this category.

Thanks.

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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.

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# 13 June 2010 at 2:24 am
sf said:

sir,
what are the Agricultural product business

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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.

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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)

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# 15 June 2010 at 12:01 am

Balaji visvanathan said:

Great site that motivates everyone.

Reply This Comment

# 17 June 2010 at 12:08 am

vijayakumar said:

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.

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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.

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# 17 June 2010 at 5:18 am

P R said:

I would like to know how to start the agriculture business. We have 200 bigha lands. We are producing some crops but are not
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making full use of the land. What more we can produce and what help we can take from government. I mean how to make best
utilization of the land. What can be done and who will train us?

We want to grow a lot of things in our land but how to proceed ahead. We do not have agricultural knowledge but are interested
in growing our Ancestral land.

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# 21 September 2010 at 12:41 am

F R said:

HI, I first thanks to the maker of this website, it is indeed great. I am also wanted to start my own small business base on
agriculture, I also have 10 acre agricultural land, and so can anyone guide me in this regard.

Reply This Comment

# 2 October 2010 at 1:54 am

A R said:

Hello, I have a business plan to open a tyre recycling product making venture… I want some clarifications
1. Is carbon credit is possible for tyre refcycling units?
2. Is any tax benefit for tyre recycling units?
3. Is any international organisations guiding tyre recycling units?

Reply This Comment

# 12 November 2010 at 3:27 am

BH said:

Dear sir,
I want to start fruits trading business. My first question is that, is it a agriculture based business or tax free. Second how to get
start with.
Thank you.

Reply This Comment

# 26 April 2011 at 12:00 am

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