Transporter's income
This query is : Resolved
28 July 2013
if a transporter is not owner of the vehicle but running transportation business by hiring of vehicles. in this case-
1. Can he take presumptive benefit under section 44AE?
2. If he cannot take the benefit of section 44AE then what section will be applicable on it or which ITR form will be filled?
Please solve my query ASAP
Thanks
Ravi Shankar Agarwal
Mob. 9251601643, 9829610261
1. Can he take presumptive benefit under section 44AE?
2. If he cannot take the benefit of section 44AE then what section will be applicable on it or which ITR form will be filled?
Please solve my query ASAP
Thanks
Ravi Shankar Agarwal
Mob. 9251601643, 9829610261
28 July 2013
1) 44AE N.A. to you.
Reason
Any person engaged in the business of plying, leasing or hiring of trucks if he owns not more than 10 goods carriages at any time during the previous year including those taken on hire purchase or on instalments. This scheme does not apply to those who operate trucks on hire without owning them (Circular 684, dt. 10-6-1994)
2) refer sec 44ad, applicable if condition satisfy
3) for sec 44ad, itr 4s is applicable
Regards
Reason
Any person engaged in the business of plying, leasing or hiring of trucks if he owns not more than 10 goods carriages at any time during the previous year including those taken on hire purchase or on instalments. This scheme does not apply to those who operate trucks on hire without owning them (Circular 684, dt. 10-6-1994)
2) refer sec 44ad, applicable if condition satisfy
3) for sec 44ad, itr 4s is applicable
Regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
