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Section 44ae

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 March 2014 there is a transporter(individual) who has its total income around 60 lakhs with no claim under 10AA or deductions of any income under C, and also he doesn't own any lorry,so,would he be covered under presumptive income or not.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
10 March 2014 no..he wont be covered under 44AE.
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Querist : Anonymous

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Querist : Anonymous (Querist)
10 March 2014 would the above transporter would be covered under 44AD of presumptive income if not 44AE?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
10 March 2014 as long as the income is not in favor of commission or agency income

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