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query on 44AE
I have two heavy vehicles for transport... a company has deducted 8,000 on 8 Lacs as per sec 194c... so how do I declare my income... will be as per sec 44ae showing 10,000 per vehicle per month or under sec 44ad ?
Replies (1)
Suppose,your i turnover of the year is lessthan Rs.2 Cr.,then 8% of it Rs.16lakhs,is to be declared as profit & tax is to be paid accoridngly.In case of digital receipts 6% of Rs.2Cr.i.e Rs.12lakh scan be considered as income .You are not supposed to keep books of account or get audit in case of Sec.44AD.This option is better.
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