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.
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
OR add as source on Google news
- Acquisition of a society by a company
- EPF withdrawal before 5 years and Disclosure in ITR-2
- FORM 115BAC
- 2.25 CRORE TRADER, NO CASH TRANSACTIONS,3CD APPLICABLE?
- Transfer of immovable property without consideration
- ITC Utilization on vehicle repair
- Clarification on ITR 3: Is Sl. No. 64 required for 44ADA income?
- Transfer of partnership interest in LLP
- Investment guidance for NRI
- Owning a property by a proprietorship firm in its name, its validity, and any court authority on it?
- UPDATION REQUIRED
- SECTION 44ADA QUERY
- Tax invoice in special case
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- GST on Restaurant service
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
- Filing GST Returns after death of proprietor
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
OR add as source on Google news
CAclubindia
