Income from fish ponds
CA Ramasekhar Karella (Financial Analyst) (77 Points)
20 December 2016
Is Income from Fish ponds covered under Section 44AD?
Thanks
CA Ramasekhar Karella (Financial Analyst) (77 Points)
20 December 2016
Pawan jaiswal
(article assistent)
(26 Points)
Replied 20 December 2016
Yes, it can be used subject to conditions that is:-
Eligible assessee:
1.Resident individual
2.Resident HUF
3.Partnership firm – Not being LLP
Eligible business:
Any business other than
1. Profession (now covered)
2. General commission agent/ commission based agency business (w.e.f, A.Y.2011-2012)
3. Business of playing, hiring or leasing goods carriages
4. Whose turnover/gross receipt exceeds Rs.2 crore.
CAclubindia
