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
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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.
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