Itr form

Not liable under 44AE. Can file u/s. 44AD, if required.

Hi Sir,

One of my friend working in IT company & getting salary income from them.

As an investment he bought a Car on Loan and given to some other person who is driver. He paid him salary, also paid per month LOAN EMI, Fuel & other expenses.

As per his form 26AS its shows around 5 LACS income from OLA cab on his name.

My quarry is which ITR he should be filled while filling annual returns. As he has income from Salary also from OLA cab.

1.      What will be consider OLA cab income? Income from other source of income from business & profession.

2.      Also can he deduct all expenses incurred by him through-out the year from the income showing in 26AS from OLA cab

ITR 3

1.  Business profit  (PGBP)

2. Yes......