44 AD
This query is : Open
02 April 2021
SIR/MAM -
We are the Partnership firm, having the turn over below Rs.1 Cr., and had commenced our business in 2020-21.
We are hiring our 7 trucks to GTA Pvt Ltd Company.
Can we file ITR u/s 44 AD ?
If yes? Can show the profit as 6 % on receipts and payments?
Plz guide us
Thanks in adv
We are the Partnership firm, having the turn over below Rs.1 Cr., and had commenced our business in 2020-21.
We are hiring our 7 trucks to GTA Pvt Ltd Company.
Can we file ITR u/s 44 AD ?
If yes? Can show the profit as 6 % on receipts and payments?
Plz guide us
Thanks in adv
02 April 2021
Provisions of section 44AE may be relevant to you. For more details, https://taxguru.in/income-tax/section-44ae-income-tax-act-1961.html
Message likes :
1 times
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
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Gift of mutual fund units to daughter
- Not able to file ITR
- Building tax payment deduction in rental Income
- Reporting of STCG on Property in ITR
- Can partnership firm show income under 44ad
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
