44ae or 44ad
This query is : Resolved
Bhushan Patil
(Querist)
02 July 2014
Hi,
I want to file ITR for one my friend who owns JCB Caterpillar Backhoes under presumptive income scheme.Now only qstn remain, does it fall under 44 AE or 44 AD?
Dintakurthi Tirumala
(Expert)
02 July 2014
If he owns vehicles carrying of goods and using for Goods transport business then only Section 44AE otherwise it is u/s 44AD.
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Rupesh Jain
(Expert)
03 July 2014
vehicle carrying goods then u/s 44AE otherwise u/s 44Ad.
Dhirajlal Rambhia
(Expert)
02 October 2021
JCB is not goods carriage, so its income can be declared under 44AD of IT act.
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