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SEC 44AE & SEC 44AD
what if the return is filed fy 2018-19 u/s 44ad and in fy 2019-20 u/s 44AE of the same person?
Replies (6)
What is his business ? is it Transport ?.
Yes he is a Transporter
If he is having less than 10 trucks , then he has to opt. for section 44AE
Last year also he has to Opt for section 44AE of the income tax act 1961 if he is having less than 10 trucks . Because section 44AD is not applicable to Plying , hiring and leasing of Goods .
Can revised now and file both u/s 44AE?
I think for F.Y 2018-19 returns date has been extended , you have to confirm what is the date ?. For F.Y 2019-20 you can file .
Check Notification 56/2020 dated 29/7/2020 of the Income tax Dept extension of date to file return for F.y 2018-19 and confirm .
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