Itr for small transporter
This query is : Resolved
Vijay Dakhvani
(Querist)
17 March 2018
Dear sir Or mam
if a transporter have 3 or 4 vehicles and he do not want take scheme u/s 44AE and not prepare books of accounts than may he file itr u/s 44AD or if he take 44AE and show income vehicle wise as per income tax act 5000 or 7500 per vehicle per month but he have more income from this business so what should he do please guide
if a transporter have 3 or 4 vehicles and he do not want take scheme u/s 44AE and not prepare books of accounts than may he file itr u/s 44AD or if he take 44AE and show income vehicle wise as per income tax act 5000 or 7500 per vehicle per month but he have more income from this business so what should he do please guide
CA R SEETHARAMAN
(Expert)
17 March 2018
44AD not applicable to truck owner.
Show monthly income 7500 per vehicle and file return under 44AE. Earning more income no problem.
Show monthly income 7500 per vehicle and file return under 44AE. Earning more income no problem.
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