I am in touch with many contract farming companies and supermarket giants to sell our produce and also to tie up with them for buy back options. We are open to grow any crop as long as it is exotic or some thing new and challenging. We have large chunk of fertile land.
The question i have here is, since we are four partners in farming, is it necessary to form a company either a partnership firm or a private limited company in order to sell our produce to range of customers, such as companies, middle men, APMCs, Super market chains and directly.
What are the tax implications for the above.
Also, eventually if we plan to have our own cold storage and packaging houses, will the tax structure change or will it be treated as farmer producer company?
Please give your suggestions / expert advice.
I have referred to this: aofcindia.org/articles.php