Transporting income
Querist : Anonymous
Please check this calculation ass.year 2009-2010.
income declare u/s 44ad transportation contract.
Gross recipt - 293330
T.d.s. - 6663
Deemed profit - 23466 (8%)
Book profit - 29335 (10%)
Total taxable income - 29335.00
Please tell me i am right or wrong.
However, there is one doubt. In case, the transportation business is of plying, hiring or leasing goods carriages, then section 44AE will apply. Just confirm that it is not the case. Otherwise the calculation is ok.
Querist : Anonymous
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