Indudhar (Tax Advocate) (427 Points)
02 April 2009hello guys..
hope you all might be bit relaxed after filing all ur IT returns. Please can anyone guide me whether is there any Estimated Income Scheme for Machine owners especially for Hitachi & JCB owners (like for civil contractors u/s 44AD & for truck owners u/s 44AE) .. help me out with specific sections & examples..
Kalpesh
(Accountts & Income Tax)
(338 Points)
Replied 03 April 2009
As fasr as i know you cant awail this benifit in both section. JCB and Hitachi Runnig on monthely rent of per Hour Charges and TDS rate is 10% + so you have to maintain books like normal and routine firm accounts and have to prepare P&L and BS for the same.
Thanks
Kalpesh Mehta
CA Sakshi
(CA Practice)
(309 Points)
Replied 03 April 2009
| Originally posted by :indu | ||
| " | hello guys.. hope you all might be bit relaxed after filing all ur IT returns. Please can anyone guide me whether is there any Estimated Income Scheme for Machine owners especially for Hitachi & JCB owners (like for civil contractors u/s 44AD & for truck owners u/s 44AE) .. help me out with specific sections & examples.. |
" |
JCB owners and dumpers are covered u/s 44AE
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