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of <h1>New Guidelines for Fish Farmers: Uniform Income Estimation, Avoid Indiscriminate Section 133A Use Without Evidence.</h1> The circular addresses the challenges faced by fish farmers operating inland freshwater fish tanks in India concerning income tax scrutiny assessments, particularly when they do not maintain formal books of accounts. It highlights the inconsistencies in income estimation by different officers and suggests forming a committee to establish uniform benchmarks for income estimation based on 'per Acre water spread area.' The guidelines recommend avoiding indiscriminate use of section 133A of the Income Tax Act unless credible evidence of tax evasion exists. These guidelines apply to current and future financial years for fish farmers not maintaining regular accounts.
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