A person is the owner of 2 trucks. He earned Rs. 5 Lakhs during the year 2008-09 from plying these 2 trucks. Can he file return by showing Rs. 3500/- per month per truck as his total income? Have he require to be audit u/s 44AB? He is not maintaning any books.
10 July 2009
Yes, the assessee if not maintaining books can claim the income on presumptive basis @ 3500/- per truck per month. He is not required to get audit done.
CAclubindia
