Tax excemption for prawns culture in india related queries.

Acqua Culture is not an agricultural activity within the meaning of agricultural income. Hence, it is taxable.

Dear Sir,

Income earned from Prawn cultivation is taxable.

Please feel free to revert in case of any doubts

Thanks and Regards

Abhishek Dugar

CA CS B.Com

Income from prawn cultivation is taxable to an individual. However the same is exempt to Co-operative society.

The judgement is pronounced in favour of the Revenue in case of KARRA JAYABHYARATHI vs. INCOME TAX OFFICER ITAT, HYDERABAD ‘B’ (SMC) BENCH