Section 44ad or 44ae- transporter
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 March 2018
Transporter Get Contract for Loading & unloading material for 12 Months in One Company. He Own 5 Truck.
He Can Declare Income Under Section 44AD or He Has to declare under 44AE Only.
Another Question if Has 5 Truck and he not used any Truck during the year or Few Months then still Calculation will be required for 12 Months.
He Can Declare Income Under Section 44AD or He Has to declare under 44AE Only.
Another Question if Has 5 Truck and he not used any Truck during the year or Few Months then still Calculation will be required for 12 Months.
13 May 2018
1. Section 44AE is applicable. Section 44AD is not applicable in this case.
2. Income will have to be computed for the number of months for which the truck is OWNED by him. Actual use is not relevant.
2. Income will have to be computed for the number of months for which the truck is OWNED by him. Actual use is not relevant.
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