Income from jcb machine
This query is : Resolved
20 March 2014
My Client have a JCB Machine and 4 Tractor.
he does not Maintain Any books of accounts and use the above machines in local work ......
In which bases I file his Income Tax Return...(1)under regular bases
(2)under 44AD or
(3)under 44AE
he does not Maintain Any books of accounts and use the above machines in local work ......
In which bases I file his Income Tax Return...(1)under regular bases
(2)under 44AD or
(3)under 44AE
20 March 2014
1. Section 44AE is applicable only for GOODS CARRIAGES.
JCB & Tractor are NOT goods carriages.
Accordingly the assessee is NOT covered u/s 44AE.
2. The assessee can avail benefit of Section 44AD.
JCB & Tractor are NOT goods carriages.
Accordingly the assessee is NOT covered u/s 44AE.
2. The assessee can avail benefit of Section 44AD.
Message likes :
1 times
20 March 2014
TRACTOR ARE NOT COVER UNDER 44AE............
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