44ae
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 October 2013
Dear Sir,
U/s Section 44AE prescribes 5000/- P.M. on heavy vehicle, thus annual income comes to rs. 60000/-.
Now my question is that if assessee wish to show Rs 100000/- as income instead of Rs. 60000/- then what is the way to show Rs. 1 lac income in itr4S.
Please advise me.
U/s Section 44AE prescribes 5000/- P.M. on heavy vehicle, thus annual income comes to rs. 60000/-.
Now my question is that if assessee wish to show Rs 100000/- as income instead of Rs. 60000/- then what is the way to show Rs. 1 lac income in itr4S.
Please advise me.
01 October 2013
You can claim a higher amount.
Please refer to:
Section 44ae(2)(i).
You can claim the higher amount than Rs 5000. claim of Rs less than 5000 per month is not allowed. So to claim rs 100000, mention the period as 12 and income per month as Rs 8333
Please refer to:
Section 44ae(2)(i).
You can claim the higher amount than Rs 5000. claim of Rs less than 5000 per month is not allowed. So to claim rs 100000, mention the period as 12 and income per month as Rs 8333
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