1) income from water supply
2) income from tractor (if assessee has only 1 truck & no other income then under 44ae income is too low then what we have to do)??
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Income comes under which head
Replies (13)
profits and gains from business and profession.
before that what is your source of income
both incomes comes under 44ad or not
can be done in 44ad
Income from water supply and Tracor will come under income from Business and can be filed u/s 44ad and if one truck income will come u/s 44ae
Truck income cannot be declared under 44AD. Should opt for 44AE.
us the tractor given on hire / rent ?
no, tractor is not given on rent/hire. assessee runs tractor himself
Profit and gains from Business
44ab and 44ae can not be taken both at a same time
Yes, no restriction, but both businesses should be different!
BP income
pgbp
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