44ae & 26as turnover
This query is : Resolved
30 August 2018
Dear All
Owned 4 trucks and want to declare income u/s 44AE 7500 x 4 x 12 = 3.60 lacs
however turnover in 26AS is about 65 Lacs so can i file income U/s 44AE Rs. 3.60 lac or i have to file it u/s 44AD by declaring 8% 5.20 lacs
Thanks
Yograj
Owned 4 trucks and want to declare income u/s 44AE 7500 x 4 x 12 = 3.60 lacs
however turnover in 26AS is about 65 Lacs so can i file income U/s 44AE Rs. 3.60 lac or i have to file it u/s 44AD by declaring 8% 5.20 lacs
Thanks
Yograj
30 August 2018
You can file ITR u/s 44AE 3.60 lacs income. You are not eligible for 44AD.
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