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confused about tax
sir I have 5 trucks and paying his installment approx 1 lack than what is the income tax 7500 per truck per month or any other rule is applicable
Replies (4)
as per 44 ae u should not have more than 10 vechicle then
7500/-, is applicable per vechicle per month
but sir truck payment is giving me by cheque 2 lack per month
u/s 44AE you have to show minimum of Rs.7,500 per truck for a month.
if your actual income is above the Rs. 7,500 per truck for a month , you have to show the actual amount.
if your actual income is above the Rs. 7,500 per truck for a month , you have to show the actual amount.
thank u sir
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