Income from Taxi hire charges - whether covered u/s 44AE.
This query is : Resolved
21 March 2009
DEAR FREINDS,
MY QUERY IS THAT MY FREIND IS RUNNING OF TAXI HIRING SERVICE.
HE HAS OWN 6 TAXI & ARRANGE TAXI OF OTHERS ON COMMISSION BASIS.
HIS TOTAL GROSS RECEIPT FOR THE YEAR 12 LACS.
WHETHER HE HAS TO MAINTAIN BOOKS OF ACCOUNTS U/S 44AA ?
WHETHER HE CAN OPT SECTION 44 AE RELATING TO ESTIMATED INCOME OF BUSINESS PLYING/HIRING OF TRUCKS ?
PLEASE TELL ME.
THANKS & REGARDS
CA. B.K.BANSAL
MY QUERY IS THAT MY FREIND IS RUNNING OF TAXI HIRING SERVICE.
HE HAS OWN 6 TAXI & ARRANGE TAXI OF OTHERS ON COMMISSION BASIS.
HIS TOTAL GROSS RECEIPT FOR THE YEAR 12 LACS.
WHETHER HE HAS TO MAINTAIN BOOKS OF ACCOUNTS U/S 44AA ?
WHETHER HE CAN OPT SECTION 44 AE RELATING TO ESTIMATED INCOME OF BUSINESS PLYING/HIRING OF TRUCKS ?
PLEASE TELL ME.
THANKS & REGARDS
CA. B.K.BANSAL
21 March 2009
SECTION 44AE OF THE IT ACT IS VERY CLEAR. IT IS APPLICABLE TO GOODS CARRIAGE ONLY.
21 March 2009
SECTION 44AE OF THE IT ACT IS VERY CLEAR. IT IS APPLICABLE TO GOODS CARRIAGE ONLY.
03 April 2009
Yes, I am agree with Hussain
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
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
