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Income Tax
Sir,, plz clarify... m a owner of a bus(passenger) can i filed I T Return i ITR 4S in 44AD for the fy 15-16 or any accounts need....
Replies (4)
you have to disclose your income as per sec. 44AE of income tax act, where Rs.7500 /- is the deemed minimum income per month, you may disclose. more income there is no restrictions.
44AE Goods carrying business... like truck and all.... tht sec. not applicable for passengers carrying like bus
Then I think you can disclose it as presumptive basis U/s 44AD
any one plz clarify 44AD OR Need any accounts
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