i have 3 lorries so how to calculate the income and how to show the amoun in ITR i want to show net income only but ITO's asking me what is the gross income. i dont maintain any books of accounts
2 Replies
SUNIL SINGH
(ACCOUNTANTS AND INCOMETAX WORKS)
(142 Points)
Replied 18 January 2010
IF YOU USE IS HEAVY VEHICLE SO MONTHLY RS. 3500/- PER LORRY INCOME FOR INCOME TAX ACT 1961 FOR A.Y. 2009-10
IF YOU USE IS NOT HEAVY VEHICLE SO MONTHLY RS. 3150/- PER LORRY INCOME INCOME FOR INCOME TAX ACT 1961 FOR A.Y. 2009-10
C.Balaji
(Learner)
(1867 Points)
Replied 18 January 2010
Mr.Govinda Reddy
Please see sec 44 AE.....
You are not required to maintain books of accounts u/s 44AA.....
i think you can avail the benefit under this section.....
Recent Topics
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
Related Threads
CAclubindia
