Vehicle finance &sec 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 May 2014
respected sir,
whether vehicle finance business (where the income is in the nature of interest )is eligible for declare income under sec 44ad or not .please discuss
whether vehicle finance business (where the income is in the nature of interest )is eligible for declare income under sec 44ad or not .please discuss
Nikhil Kaushik
(Expert)
09 May 2014
well, per say it should be included as it is not excluded from the definition of eligible business. However, there is one question, ensure that you have proper license/permission to carry on vehicle finance business before you make any tax filings for the same
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