INCOME TAX ON SHRIMP FARMING / AQUACULTURE BUSINESS

[pradip patwardhan]

Dear experts, I have following queries..

1)income received by an individualfrom farming of shrimps i.e. aquaculture in ponds is taxable under income tax or not??

2)income received by PVT LTD COMPANY from farming of shrimps i.e. aquaculture in ponds is taxable under income tax or not??

KINDLY REPLY..

thanks and regards,

PRADIPPATWARDHAN

AI Summary

Is Income from Shrimp Farming in Ponds Taxable for Individuals and Private Companies? Clarification Sought. An individual inquired whether income from shrimp farming, specifically aquaculture in ponds, is subject to income tax for both individuals and private limited companies. The query seeks clarification on the tax implications for income generated through aquaculture activities.