Transportation of students

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 December 2016 A person is running buses for transportation of school kids. how is the person taxable under income tax.

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

05 December 2016 It it is a school bus then he must be receiving wages(salaries) for his services, then it will b taxed as income from salaries. And if it is his personal bus(maintenance charges borne by driver) then it will b treated his business income.

Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2016 is presumptive section applicable i.e. 44AE

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

06 December 2016 Please refer the following link for Sec 44E:-

http://taxguru.in/income-tax/all-about-section-44ae-of-income-tax-act-1961.html

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok