Income for TDS deducted U/s 194C
This query is : Resolved
28 July 2024
The assessee owns 2 cars and give to Companies on a contract basis and whatever payment he receives the TDS is deducted U/s 194C.
Question
1- The income will be shown under which head.
2- Can we file it under 44AD.
3- If yes, what is the minimum percentage of profit which must be shown. (As renting cars doesn't have must expenses to maintain)
Thanks in anti cipation
Question
1- The income will be shown under which head.
2- Can we file it under 44AD.
3- If yes, what is the minimum percentage of profit which must be shown. (As renting cars doesn't have must expenses to maintain)
Thanks in anti cipation
28 July 2024
1. PGBP
2. Yes
3. As per sub sec. 44AD IT act.
2. Yes
3. As per sub sec. 44AD IT act.
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