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Sectiion 44ad

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 August 2011 Sir,
An assessee has owner of 4 taxi cabs. Can he calculate his income u/s 44 AD ?
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
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.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
09 August 2011 yes, he can calculate his income as per provisions of Section 44AD




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