Sec 44ae
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 November 2011
HOw to show travelling income in the Income Tax Return??? AS General or under some specific section?
29 November 2011
U/s 44AE, only income from leasing, hiring and plying of goods carriages can be shown by the owner of such carriages.
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In any other case where gross receipts or turnover is less than 60.00 lacs , income @ 8% of Gross Receipt or turnover ....can be shown U/s 44AD on presumptive basis,
.
In any other case where gross receipts or turnover is less than 60.00 lacs , income @ 8% of Gross Receipt or turnover ....can be shown U/s 44AD on presumptive basis,
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