Income tax on Fishing business
This query is : Open
08 April 2017
My client is a fisherman/fishing business & wants to file income tax return.
My query is whether fishing business is covered under agricultural business or is just like any other normal business?
Also is there any service tax implications?
Any special provisions applicable on fishing business?
08 April 2017
Fishing is not agriculturalincome, it is like other business income. No service tax implications as it will be coming under trading. No special provisions.
Message likes :
1 times
08 April 2017
Thanks a lot sir.
08 April 2017
Is VAT provisions applicable on fisherman who sale dead fishes to
09 April 2017
VAT not applicable on fish sales including dry fish.
09 April 2017
Thanks again
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- Missed TDS
- TDS refund Indemnity Bond
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- DUE DATE FOR ITR FILING
- U/S 194 T
- GST REGISTRATION REQUIRED TO DIAGNOSTIC UNIT
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
