Sec 44ad of the IT act

260 views
User Avatar

Student
40 Points Posted on 11 April 2020
Can plying of taxi cab be computed u/s 44ad income !!
0 Reply Share Follow
On 11 April 2020 at 10:16 Report
Replies (4)
Quick Summary
This discussion clarifies the applicability of Section 44AD of the Income Tax Act to income earned from plying a taxi. While Section 44AE is generally for goods carriage, 44AD can be considered for taxi operations if you own fewer than 10 cabs and are not solely receiving commission. It offers a presumptive income calculation method.

User Avatar

Chartered Accountant
12739 Points Posted on 11 April 2020

Sec 44AE is most appropriate in your case if you do not own more than 10 cabs. 

then you can go for the presumptive income .

Reply
On 11 April 2020 at 11:47
User Avatar

Consultant
1891 Points Posted on 11 April 2020

Yes you can use the benefit of section 44AD.

If you are only receiving commission from that plying of taxi cab then 44AD wont be applicable. 

Reply
On 11 April 2020 at 12:09
User Avatar

Student
40 Points Posted on 11 April 2020
Ohk thanks a lot for your valuable advice
Reply
On 11 April 2020 at 12:49
User Avatar

Consultant
1891 Points Posted on 11 April 2020

@ Naveen Chand: 

44AE is only applicable in case of goods carriage. 

Reply
On 11 April 2020 at 14:38

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Guidence requested for a Finance Professional with
  2. Expert Opinion Required – Form 140 Gross Amo
  3. WRONG TAX DEMAND - formal responses , rectificatio
  4. Foreign remittance
  5. Affordable Residential Flats in Gurgaon
  6. Manufacturing
  7. TAN REGISTRATION ON E-FILLING SITE
  8. Form 10-IEA – Continuing Old Regime
  9. Income tax act 2026
  10. Belated Return where Form 10IEA filed this year to

More recent discussions | Post

Related Topics :

Loading