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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
