Receipt from renting heavy goods vehicle
This query is : Open
19 May 2025
DEAR SIR,
ONE OF MY CLIENT RENTING HIS 12WHEELS HEAVY VEHICLE FOR SO MANY COMPANIES. HIS PREVIOUS YEAR RENTAL INCOME RS. 407006/-(154551/87900/164555) FROM ALL COMPANIES. NO ONE HAS BEEN DEDUCTED TDS.
AND ALSO HIS UPI TRANSACTION NEARLY ABOVE 40LAKHS PER ANNUM. RECEIVED FROM RENTING VEHICLES.
IN THIS CASE CAN WE DECLARE BUSINESS INCOME U/S 44AD
YOUR GUIDENCE MUCH NEEDED
THANK YOU
ONE OF MY CLIENT RENTING HIS 12WHEELS HEAVY VEHICLE FOR SO MANY COMPANIES. HIS PREVIOUS YEAR RENTAL INCOME RS. 407006/-(154551/87900/164555) FROM ALL COMPANIES. NO ONE HAS BEEN DEDUCTED TDS.
AND ALSO HIS UPI TRANSACTION NEARLY ABOVE 40LAKHS PER ANNUM. RECEIVED FROM RENTING VEHICLES.
IN THIS CASE CAN WE DECLARE BUSINESS INCOME U/S 44AD
YOUR GUIDENCE MUCH NEEDED
THANK YOU
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