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44 AD

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(Querist)
02 April 2021 SIR/MAM -

We are the Partnership firm, having the turn over below Rs.1 Cr., and had commenced our business in 2020-21.

We are hiring our 7 trucks to GTA Pvt Ltd Company.
Can we file ITR u/s 44 AD ?

If yes? Can show the profit as 6 % on receipts and payments?

Plz guide us
Thanks in adv
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CMA Poornima Madhava

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CMA Poornima Madhava (Expert)
02 April 2021 Provisions of section 44AE may be relevant to you. For more details, https://taxguru.in/income-tax/section-44ae-income-tax-act-1961.html

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