|
PARTICULARS
|
44 AD
|
44 ADA
|
44 AE |
|
Eligible Assessee
|
Individual/HUF/Firm (Other than LLP) |
Resident assessee being an individual or a partnership firm other than a limited liability partnership |
Any person |
|
Eligible Business
|
Any Business except 44 AE |
Profession referred in 44AA |
Plying, hiring or leasing good carriages |
|
Applicability |
Turnover or gross receipts should not exceed 2 Crores. Person should not be engaged in agency business or in commission or brokerage or Profession referred in 44 AA |
Gross receipts should not exceed 50 Lacs. |
No. of vehicles own should not exceed 10 at any time during the previous year |
|
Presumptive Income |
8% or 6% |
50% |
7500/Month or part of the month 1000 Per Ton. |
|
Interest and Remuneration |
Not allowed |
Not allowed |
Allowed |
|
Applicability of 44 AB |
If 44AD(4)get attracted and Total Income Basic Exemption |
Income offered is less than 50% and total income exceeds Basic Exemption limit |
Income offered is less than the presumptive Income |
|
Higher Income |
Claimed to have been earned |
Claimed to have been earned |
Actually Claimed to have been earned |
|
Advance tax |
Applicable |
Applicable |
Silent Applicable |
|
Number of installments |
100% in the last installment |
100% in the last installment |
Silent all 4 installments |
|
Applicability to Non-Resident |
Not applicable |
Not applicable |
Applicable |
CAclubindia
