Income Tax us 44Ad

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articleship
202 Points Posted on 08 September 2022
Is it ok to file Income Tax of Transport business under section 44ad, as his turnover is more than 1 Cr.
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On 08 September 2022 at 09:37 Report
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This discussion addresses whether a transport business with a turnover exceeding £1 million can file its Income Tax under Section 44AD. The consensus is that while it can be declared as normal business income, Section 44AD is not applicable if the business involves hiring goods vehicles, regardless of vehicle ownership.

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SEO Sai Gr. Hosp.
212450 Points Posted on 08 September 2022

Does he own any vehicle?                

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On 08 September 2022 at 09:46
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articleship
202 Points Posted on 08 September 2022
No Sir
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On 08 September 2022 at 09:47
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SEO Sai Gr. Hosp.
212450 Points Posted on 08 September 2022

Yes, it can be declared under normal business, but not under sec. 44AD of the act if involved in hiring any goods vehicle..

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On 08 September 2022 at 10:00

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