Hello
One of my client given his cars to a Pvt company for rental. Every month he receive 30k as rental amount. Maintenance will be borne by the company itself.
which itr can be filed??
ITR 3 OR 4???
Please suggest
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INCOME FROM CABS - ITR??
Replies (2)
here in your case its clear that the person doing the same as not a business since there is no expense to him against the income so we can treat it as income from other sources. if we do so the what ever may be the form it will not make any changes you need to show the income as inclome from other sources (selection of form will be based on the other incomes such as salary, business, capital gain etc).
If you want to treat it as a business then you can choose form 3, you can choose form 4 also if ur going to show ur income under presemptive taxation
Yes you can opt for ITR -3 OR ITR -4 depends on what kind of income you assumed from car rental.
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