Truck (gross weight 25 mt) hired on fix amount of ₹ 1,20,000 yearly and paid to owner.
Now query raising whom can eligible to opte to presumtive income 44AE real owner of truck? Or second party?
Please advise
Regards
Presumptive Tax under 44 AE of the Income Tax act 1961 is applicable to owner of the truck , having less than 10 truck or goods carriage .
please confirm with others also .
what about second party whom hired truck on yearly fixed amount?
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
