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Karnataka Poultry farmers seek ‘Agriculture’ status under Income Tax Act

  • 26 Jun, 2019
  • India

Farmers association has made a representation to the Minister of Finance on the need to incorporate poultry farming as ‘agriculture’.

With the Union Budget around the corner, the Karnataka Poultry Farmers and Breeders Association (KPFBA) wants the Government of India to consider all poultry farming activities as ‘Agriculture’ under the Income Tax Act.

According to the board, the poultry sector is exposed to all types of natural vagaries and gives employment mostly to the unskilled and rural population, which is why it should be brought under ‘Agriculture’ in the Income Tax Act. By doing so, poultry farmers can avail tax benefits.

KPFBA has made a representation to the Minister of Finance, Nirmala Sitharaman on the need to incorporate poultry farming as ‘agriculture’, among other demands.

“Poultry farming could help in this regard as agriculture farmers could take up poultry as a means of subsidiary income, if the government provides incentives. Poultry will play a key role in inclusive growth of the rural economy and thereby help to achieve Government’s ambitious plan of doubling farmers’ income,” KPFBA President Akhilesh Babu said.

The board has also recommended that the government should allow the import of feed ingredients such as maize, corn and medicines required by the sector without any restrictions on quantity, and make available sufficient and low-cost finance with subsidies to construct warehouses, cold storage facilities to store eggs and poultry meat products. 

Source https://economictimes.indiatimes.com/news/economy/agriculture/karnataka-poultry-farmers-seek-agriculture-status-under-income-tax-act/articleshow/69944378.cms

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