Urgent
This query is : Resolved
08 August 2015
my one client had purchased 3 Tankers n registered them in name of other partys transport who has got the Govt Tender in Indian oil corp . Thats tranporter run them under his tranport and make the payment to my party after deducting all exps like diesel , toll tax , maintenance. My question is whether my clinet can file his return under sec 44AE for his 3 tanker whenthough they r registered in name of other party?? Plz reply urgently.. Thanx in advance...
08 August 2015
If that person has not shown the vehicles in his books of accounts and not claiming 44AE for the vehicles and payment for the vehicles made by your client, your client can claim 44AE. But tax authorities may raise objection but you have to convince them by producing documents.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Bank Accounts in Balance Sheet for ITR 3
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
