Profit earned from cultivation of Prawn and Fish

[Lakshmi NV]

One of my Clint has taken 450 acres of wetland on lease and cultivated prawn and fish and he has earned a profit of ₹ 40 lahk from such cultivation .is this income agricultural or business.

AI Summary

Income from Prawn and Fish Cultivation on Leased Wetland Classified as Business Income for Tax Purposes A query was raised regarding the classification of income earned from prawn and fish cultivation on leased wetland, totaling a profit of 40 lakh. The question was whether this income should be considered agricultural or business income for tax purposes. The response provided by a participant in the forum suggested that this income should be classified as business income.