I am a farmer growing coconuts.. I want to start a cottage industry on my farm for processing coconuts, with an investment of less than one lakh rupees and with 2 or 3 labors. I will be using the existing building and infrastructure facilities on the farm. What are the licensing and registration requirements and where do i apply? What are the tax implications? If I sell my product to wholesale or retailers, do i need to pay sales tax? At present i am not paying income tax. How does the income from the cottage industry impact my tax status? Please advise how to proceed
