Dear Experts,
One of the individual assessee earns income by way of renting of car with driver who is on the payroll of the assessee to various companies on basis of their requirement.
May I know that whether the assessee can file return of income on the basis of presumptive taxation under section 44AD of the Act or not?
As per my view,the assessee can file return under the said section as it is business of the assessee to rent the car and there is no exclusion specified in Section 44AD regarding such nature of business.
Your comments and justification would be helpful to me.I would be grateful to you for your prompt reply.
Thanks and Regards,
Dhrunil Bhatt
CAclubindia
