Sector overview
The agriculture sector combines traditional farming operations, rural credit markets, and food processing units. Key areas include tax exemptions for agricultural income and statutory audits for Farmer Producer Companies (FPCs). We support agribusinesses, food processors, and FPCs in securing tax benefits, managing regulatory filings, and establishing internal accounting systems.
Common challenges
- Maintaining proper financial records for rural FPCs with limited infrastructure.
- Documenting and separating exempt agricultural income from taxable trading income.
- Adhering to compliance requirements for government food processing subsidies.
- Ensuring operational compliance for co-operative credit societies.
How we support this industry
- Statutory audits and accounting setup for Farmer Producer Companies (FPCs).
- Advising on tax exemptions and incentives for food processing units.
- Internal audits for agricultural credit co-operatives.
- Support with applications for government agricultural development grants.
