hi,
Pl. clear my confusion that can a cab or auto driver file return of his income.
if yes, then what will be the expenses and income for him.
Wont income tax dept. ask to proove his income as expenses as they dont keep record of expenses and income.
Pl help me to come out from above confusion
thnx in advance
First of all say the of turnover the direver and if his turnover is less than Rs. 10,00,000 then he is not required to maintain any books of account
| Originally posted by : stepping stone | ||
 |
First of all say the of turnover the direver and if his turnover is less than Rs. 10,00,000 then he is not required to maintain any books of account |
 |
This provision is for transporter having 10 trucks Heavy and semi heavy....
I suppose Naroo want to know that How a truck driver can file a return or procedure for calculating liability of tax....
If driver is getting Salary then tax shall be calculated on the basis of pay slip and if he getting rental from travelers then onus to prove the liability of driver is on AO....
If driver want deduction of expenses then He has to provide supporting documents of expenses....like
Truck maintenance( If Owner), Lunch and dinner in a trip, etc....
thnx to all for answering me
i ll be much oblidge if you tell me how to compute income of self dependent cab or auto driver ( not truck driver ) driving own auto
thnx to all for replying
pl pl pl help me
you will calculate the gross receipt from taxi collection and then the expenses allowable will be petrol expenses,maintenance expenses, depreciation on the vehicle, and all the other expenses that are wholly and exclusively incurred for earning that income in normal case.
CAclubindia
