Freight income
This query is : Resolved
SHREEPAL LALWANI
(Querist)
29 December 2018
Dear Sir,
Assessee has own 1 tempo and also other 1 tempo he has taken on rent. His total income from both tempo Rs. 245400/-. How income declared in I.T. return for Own Tempo and Tempo Taken on Rent?
Is it declared both tempo income u/s 44AE? or else one own tempo income in u/s 44AE or other income as other business head?
Assessee has own 1 tempo and also other 1 tempo he has taken on rent. His total income from both tempo Rs. 245400/-. How income declared in I.T. return for Own Tempo and Tempo Taken on Rent?
Is it declared both tempo income u/s 44AE? or else one own tempo income in u/s 44AE or other income as other business head?
CA R SEETHARAMAN
(Expert)
29 December 2018
Show both income under single business income head. No tax payable as it's below taxable limit.
44AE applicable for trucks only.
44AE applicable for trucks only.
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