Deep sea fishing income

This query is : Resolved 

14 October 2013 Dear Sir,

1. I would like to know whether deep sea Fishing Income comes under agriculture Income & exempted under section 10?

2. If yes, gross income morethan 1 Crore, then Whether Audit is required???

Pls reply ASAP
CA Rupesh Agrawal

14 October 2013 tHE ANS TO Q I IS NO AS IT DOESNT FALL IN DEFINTION OF AGRICULTURAL INCOME UNDER SEC 2.

Ans to q2.Yes as epr sec 44AB.


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