Sectiion 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 August 2011
Sir,
An assessee has owner of 4 taxi cabs. Can he calculate his income u/s 44 AD ?
An assessee has owner of 4 taxi cabs. Can he calculate his income u/s 44 AD ?
09 August 2011
yes he can.
44AD covers all eligible business except PLYING OF GOODS CARRIAGE VEHICLES ON HIRE.
Since you have taxies, same is not covered in the above exception.
44AD covers all eligible business except PLYING OF GOODS CARRIAGE VEHICLES ON HIRE.
Since you have taxies, same is not covered in the above exception.
09 August 2011
yes, he can calculate his income as per provisions of Section 44AD
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