Clarification regarding the meaning of the expression 'fish or fish products' used in sub-clause (iii) of clause (f) of rule 6DD of the Income-tax Rules, 1962
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Definition of fish or fish products clarified-includes marine species; cash-payment exception under rule 6DD applies to producers only. The circular clarifies that the cash-payment exception in rule 6DD(e)(iii) applies to purchases of fish or fish products, including marine products such as shrimp, prawn, cuttlefish, squid, crab and lobster, and that 'producers' include fishermen and headmen who sort catches at the seashore; the exception does not apply where the seller is only a trader, broker or middleman.
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Definition of fish or fish products clarified-includes marine species; cash-payment exception under rule 6DD applies to producers only.
The circular clarifies that the cash-payment exception in rule 6DD(e)(iii) applies to purchases of fish or fish products, including marine products such as shrimp, prawn, cuttlefish, squid, crab and lobster, and that "producers" include fishermen and headmen who sort catches at the seashore; the exception does not apply where the seller is only a trader, broker or middleman.
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