Section 44ad & 44ae
This query is : Open
Sreeram Yashasvee
(Querist)
07 October 2014
My clients Gross Receipts is Rs.98 lakhs. He also has Transport Hire charges of Rs.6lakhs. Do I have to consider it under Section 44AB or can I take 8% of Gross receipts under section 44AD and one heavy business vehicle under sec.44AE. If I take the later it falls less than One Crore.
08 October 2014
In my opinion it is better to adopt the second alternative that is to take the transport business u/s 44AE.
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