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Agriculture income and truck plying
Sir the sources of income of the assessee is out of truck plying and aslo have the income fron agriculture the assessee has been filed his income tax return u/s 44AE but to show the agriculture income the assessee has filed form No 3 now this return has been made invalid and asked to maintain account u/d 44AA and get the audit under section ,44AB.Sir please guide me and oblige.
Replies (3)
Quick Summary
Earlier filed ITR is made INVALID.
File ITR 3 again, but this time declare truck plying income u/s. 44AE. No need of declaring it under normal process, i.e. with P&L acc & BS.
Until the income from plying trucks is lower than the prescribed rates the audit is not mandatory.
SHOW Truck Plying income u/s 44 AE and declare agriculture Income file ITR Form 3.
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