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Fisheries-exempted fro tax

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(Querist)
14 December 2012 Sir,

Are the fisheries are exempted from tax (or) it should be treated as agriculture income
Is there any certain limit for such business income to be considered as taxable
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Mohit Naithani

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Mohit Naithani (Expert)
15 December 2012 Any profit arrise from fishery or polutry farm is not an agricultural income. and taxable as business income.
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MJ Krishnamurthy

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MJ Krishnamurthy (Expert)
15 December 2012 But it is exempt from VAT only....mjk




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