Head of Income

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amol

amol (Querist)
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13 April 2009

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 April 2009 Head of income,no doubt,is 'profits and gains of business or profession'.44AD is civil constructions. A sand supplier cannot said to be in the business of civil constructions. 44AE is plying,hiring or leasing goods carriages. If Rs.33 lakhs includes value of sand, then 44AE is ruled out.44AF is retail business. If Rs.33 lakhs includes sand cost and sand is supplied to the end user,according to me,44AF attracts.