how to calculate the lorry business

ITR 1282 views 2 replies

i have 3 lorries so how to calculate the income and how to show the amoun in ITR i want to show net income only but ITO's asking me what is the gross income. i dont maintain any books of accounts

Replies (2)

IF YOU USE IS HEAVY VEHICLE SO MONTHLY RS. 3500/- PER LORRY INCOME FOR INCOME TAX ACT 1961 FOR A.Y. 2009-10

IF YOU USE IS NOT HEAVY VEHICLE SO MONTHLY RS. 3150/- PER LORRY INCOME INCOME FOR INCOME TAX ACT 1961 FOR A.Y. 2009-10

Mr.Govinda Reddy

Please see sec 44 AE.....

You are not required to maintain books of accounts u/s 44AA.....

i think you can avail the benefit under this section.....


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