One silly question - I am running business, providing car in hire basis in a govt office. I received TDS cerificate where TAX is deducted under 194C. Since the payment made by then is NOT teh actual Income. Is theer any fixed value or percentage defined by income tax rule that could be considerd as income from this business or I need to prepare profit loss statement?
Thanks and regards, Dibyendu
Refer Section 44AE of the income tax act ...
Yes u can only if u r not owing more than 10 goods carriages...........and nthng is contradictry to other sec of income tax act........
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