Vehicle hire charges
This query is : Resolved
21 November 2018
MR.A have 2 transport vehicles, which he given to ABC ( A registered firm) on contract basis , on a monthly rent Rs.15,000/- and Rs.16,000/- .Got all amounts in cheques , through bank.
Can Mr.A , show this income under presumptive basis .I.e Rs.7500 for 12 months.
kindly give your valuable suggestions...
Can Mr.A , show this income under presumptive basis .I.e Rs.7500 for 12 months.
kindly give your valuable suggestions...
CA R SEETHARAMAN
(Expert)
22 November 2018
Yes he can opt for presumptive basis of 7500 for 12 months.
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