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Advice for section 44ad

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 December 2011 i am doing business of vehicle on rental basis. can i cover under section 44AD.

company where i supply vehicle is deduct
a TDS @ 10% under section 194I.

my total turnover for FY 2010-11 is Rs.45Lacs Apx.

pl advice me for how to file my return for FY 2010-11

Thanking you,

regards

Jayesh
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
05 December 2011 You have to give further information as regards the vehicles and ownership.
.
Goods Carriages owned by you -Refer Section 44AE.
.
Passenger vehicles-- 44AD can be adopted for showing presumptive income.
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CA. Rajesh P. Ahir

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CA. Rajesh P. Ahir (Expert)
05 December 2011 I would like to add to the Paras sir's Comment,

If you own less than 10 vehicle than you can avail the said benifit.




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