CBDT has issued a notification to seeks formation of committee to resolve issue of estimation of income of fish farmers not maintaining books under Section 143 of The Income-Tax Act, 1961 subject to cited as farming of scrutiny assessments in cases of fish farmers involved in running inland fresh water fish tanks.
Representations have been received by the board from various quarters regarding difficulties being faced on account of surveys and income-tax scrutiny assessments by fish farmers, being involved in business and profession of running inland fresh water fish tanks specifically in cases where the books of accounts are not being maintained by the assessees concerned.
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Representations have been received by the board from various quarters regarding difficulties being faced on account of surveys and income-tax scrutiny assessments by fish farmers, being involved in business and profession of running inland fresh water fish tanks specifically in cases where the books of accounts are not being maintained by the assessees concerned.
Continued ... (Click Here)
