Instructions with respect to fish farmers.

Taxation of fish farming: business income estimation accepted to encourage compliance, prawn farming excluded.

Income from fish farming is business income, not agricultural income. For assessee without accounts, taxable income may be accepted at 4,000 per acre of water spread per year, with water spread estimated at 70% of total land; disclosures on this basis for assessment year 1993-94 should not attract survey or search. Regularly accounted farms are assessed on their accounts. The estimation applies to inland freshwater ponds (including saline inland tanks) but excludes prawn farming; it is a method of estimation under the head 'Profits and Gains of Business or Profession' and does not affect set off rules or justify surveys for unrelated activities.