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Transportation of students

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 December 2016 A person is running buses for transportation of school kids. how is the person taxable under income tax.
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Sandeep Dharar

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Sandeep Dharar (Expert)
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.
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 December 2016 is presumptive section applicable i.e. 44AE



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Sandeep Dharar

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Sandeep Dharar (Expert)
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

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