How to file incometax of trucks owner
This query is : Resolved
27 July 2012
Please help i am accountant i have some knowledge of IT now i got one client he is owner of 4 trucks he has to file income tax he not maintained books of accounts etc He earned Rs 4lakhs can i file income tax without CA in 44AE sec or 44AF plz give some examples
27 July 2012
If he have less then 10 Vehicle (As you said 4 Trucks) then according to Sec 44AE their is no need to maintain Books of account and income is to be calculated as follow:
Heavy Vehicle : Rs 5000 Per Month
Light Vehicle : Rs 4500 Per Month,
Heavy vehicle mean weight of which is exceed Rs 12000 KG.
Heavy Vehicle : Rs 5000 Per Month
Light Vehicle : Rs 4500 Per Month,
Heavy vehicle mean weight of which is exceed Rs 12000 KG.
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