Advice for section 44ad
This query is : Resolved
Querist : Anonymous
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
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
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.
.
Goods Carriages owned by you -Refer Section 44AE.
.
Passenger vehicles-- 44AD can be adopted for showing presumptive income.
Message likes :
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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.
If you own less than 10 vehicle than you can avail the said benifit.
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