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Applicability of sec 44ad for machine

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(Querist)
25 June 2013 Hi! my dad have a machine( JCB earthmover), which is run on lease rental basis in company as well as hire charges on local. whether section 44 AD can apply on total of lease rent and hire charges received. i.e 8% on total of income from machine to compute taxable income that.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 June 2013 Yes. sec.44AD can be claimed
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