Sec 44 ae
This query is : Resolved
26 December 2013
my client has 4 trucks on rent. a company which is hiring the truck is not deducting tds from rent. form no 26As showing only rent amount u/s 194c which received by he. can he claim 5000 p.m. u/s 44ae as declare income or fill ITR-4 as per 26as amount.
26 December 2013
Yes he is eligible for Section 44AE and can show Rs. 5,000 per month per truck in the return.
He will file ITR4S.
He will file ITR4S.
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26 December 2013
Is it concern how much he earn from one truck?
28 December 2013
His actual earning is irrelevant.
The only condition is that he should own not more than 10 trucks at any time during the year.
The only condition is that he should own not more than 10 trucks at any time during the year.
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