banner_ad

Fish farming treatment

Others 639 views 6 replies
User Avatar

Article assistant
71 Points Posted on 28 July 2019
Last year one of relative started fish farming business ..He is a farmer and doesn't have any other income..He received all the payment in his bank a/c ..Should he file ITR as fish farming income is taxable and he has received more than 10 lakh in bank account though he has suffered loss overall
0 Reply Share Follow
On 28 July 2019 at 13:13 Report
Replies (6)
User Avatar

SEO Sai Gr. Hosp.
211715 Points Posted on 28 July 2019

Yes, ITR3 should be filed and the income to be declared u/h. PGBP.

Reply
On 28 July 2019 at 19:49
User Avatar

Article assistant
71 Points Posted on 28 July 2019
is tax audit required ?
Reply
On 28 July 2019 at 20:01
User Avatar

SEO Sai Gr. Hosp.
211715 Points Posted on 28 July 2019

No, if total income is below basic exemption limit.

Reply
On 28 July 2019 at 20:04
User Avatar

Article assistant
71 Points Posted on 28 July 2019
he has only agriculture income (which is prob more than 2.5lac) apart from business loss ..So is he required considering agriculture income is exempt
Reply
On 28 July 2019 at 20:05
User Avatar

SEO Sai Gr. Hosp.
211715 Points Posted on 28 July 2019

No, not mandatory.

Reply
On 28 July 2019 at 20:07
User Avatar

Article assistant
71 Points Posted on 28 July 2019
ok..thank you sir for clearing my doubts
Reply
On 28 July 2019 at 20:08


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details