Income Tax
Sobhan (39 Points)
07 September 2017
Sir,, plz clarify... m a owner of a bus(passenger) can i filed I T Return i ITR 4S in 44AD for the fy 15-16 or any accounts need....
4 Replies
SOURAV ROY
(TAX CONSULTANT)
(42 Points)
Replied 07 September 2017
you have to disclose your income as per sec. 44AE of income tax act, where Rs.7500 /- is the deemed minimum income per month, you may disclose. more income there is no restrictions.
Sobhan
(39 Points)
Replied 08 September 2017
44AE Goods carrying business... like truck and all.... tht sec. not applicable for passengers carrying like bus
SOURAV ROY
(TAX CONSULTANT)
(42 Points)
Replied 08 September 2017
Then I think you can disclose it as presumptive basis U/s 44AD
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