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
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how to calculate the lorry business
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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