How to treat jcb machines income
This query is : Resolved
27 August 2011
I have 3 JCB machines. How I should file my income from these machines. I do not maintain any books. I have also agriculture income.
27 August 2011
Dear
If the income from JCB is not received through Cheque then you are free for self assessment, and can show any income, similarly Receipt upto 10 Lac need not to maintain books of A/c and hence you are free, alternatively you can Opt Sec 44AD where you have to show Minimum Profit @8%
If the income from JCB is not received through Cheque then you are free for self assessment, and can show any income, similarly Receipt upto 10 Lac need not to maintain books of A/c and hence you are free, alternatively you can Opt Sec 44AD where you have to show Minimum Profit @8%
27 August 2011
Thanks Sir. Can I treat JCB income as transport income or business income. How much amount I can consider without books of accounts
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