Transporting income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 April 2010
Dear All
Please check this calculation ass.year 2009-2010.
income declare u/s 44ad transportation contract.
Gross recipt - 293330
T.d.s. - 6663
Deemed profit - 23466 (8%)
Book profit - 29335 (10%)
Total taxable income - 29335.00
Please tell me i am right or wrong.
Please check this calculation ass.year 2009-2010.
income declare u/s 44ad transportation contract.
Gross recipt - 293330
T.d.s. - 6663
Deemed profit - 23466 (8%)
Book profit - 29335 (10%)
Total taxable income - 29335.00
Please tell me i am right or wrong.
06 April 2010
Yes Agreed. The calculation is correct.
However, there is one doubt. In case, the transportation business is of plying, hiring or leasing goods carriages, then section 44AE will apply. Just confirm that it is not the case. Otherwise the calculation is ok.
However, there is one doubt. In case, the transportation business is of plying, hiring or leasing goods carriages, then section 44AE will apply. Just confirm that it is not the case. Otherwise the calculation is ok.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 April 2010
Thankyou sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
Trending Online Classes
CAclubindia
