A person is running raxi which is owned by himself. whether it is income from business or other source.
if it is business income can we opt for 44AD.?
he also have income from house property
thanks in advance
Menu
Taxi Driver with other income
Replies (4)
Income from running taxi should be shown under the head profits and gains of business or profession
He can adopt 44AD provided that the income is within the limits
He can adopt 44AD provided that the income is within the limits
Income from running taxi is under head Profit and Gains from Business and Profession. He may opt for presumptive taxation.
Asscssee can show his income in business and profession . and either he can opt presumptive taxation U/s 44AD which ever is more benifitial to asscessee.
Asscssee can show his income in business and profession and he can file itr 4 for more benifitial to asscessee.
Recent Threads
- Can claim Itc
- Transfer of mutual funds to son as gift
- First Time ITR with 5000 penalty
- Loss due to non tradeable stocks
- What's CGAS?
- Income tax status
- Demand raised for 'Self assessment tax' amount AY2
- TDS payment using Form 26QB when buying property o
- Export sales not realised payment not received fro
- RCM related queries
Related Threads
CAclubindia
