ITC on Four Wheeler motor vehicle

This query is : Resolved 

29 July 2024 1- Can ITC be available on purchase of a four-wheeler motor vehicle if it is solely purchased to give it on a contract basis to companies?
2- If it is used as Taxi and given to companies on a contract basis.

29 July 2024 1 and 2 Yes if GST charged on contract receipt.

29 July 2024 And sir how to show this income in Income Tax.
1- Can we show these receipts (car on contract) u/s 194c in 44AD with 25-30% profit...


29 July 2024 Yes, no problem...
...

29 July 2024 thank you very much sir

29 July 2024 You are welcome...
...



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries