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of <h1>Andhra Pradesh Fish Farmers Taxed: Fish Farming Not Agricultural; Income Set at Rs. 4,000 Per Acre Annually.</h1> The circular addresses the taxation of fish farmers in Andhra Pradesh who converted rice fields into fish tanks. It clarifies that fish farming is not considered agricultural activity and is subject to taxation. The Finance Ministry has decided to accept declared income from fish farmers at Rs. 4,000 per acre of water-spread annually, estimating water spread at 70% of the land area. This applies to inland freshwater fish tanks, excluding prawn tanks. Fish farmers must file returns like other businesses. The circular outlines procedures for estimating income where no accounts are maintained and specifies that no surveys or searches should be conducted if income is disclosed accordingly.
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