Income u/s 44ae with audited income of trading activity
This query is : Resolved
28 June 2014
An assessee having turnover of Rs.10 crores from trading activity and also owner of 4 nos. Dumpers used in transportation of its own materials and also hiring such dumpers.
my question is that is it possible to show income from Dumper u/s 44AE as a separate business activity and not to show such dumper in audited balance sheet of trading activity, because assessee don't want to claim depreciation on such dumper in audited financial statement of trading activity.
my question is that is it possible to show income from Dumper u/s 44AE as a separate business activity and not to show such dumper in audited balance sheet of trading activity, because assessee don't want to claim depreciation on such dumper in audited financial statement of trading activity.
30 June 2014
In my opinion it is possible to keep dumper income separate from his trading activity and show it under section 44AE.
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