One of my client has two trucks and showing income u/s 44AE i.e 95000 per truck as he do not maintain books.
He do not maintain books of business but prepare personal balance sheet. Now what will be cash accrual
(a) 95000 or
(b) 95000 plus depriciation on the truck as 95000 is net profit after depriciation and cash profit should be net profit plus depriciation.
Also similar point with regards to 44AD
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