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While filling itr4 of a good transport agency u/s 44AE, in 26AS it is reflected in amount credited coloum 5.50 lakhs approx and no TDS has been reflected in TDS coloum, how to deal with that?if he owns less than 10 trucks does the deductor is liable to deduct tds?how to deal with the amount which is reflected in 26AS?kindly reply and explain it in detail
Replies (4)
if you go for presumtive section as per 44ae than your deemed income will be 7500×12× number of truck you hold during the previous year
ignore the tds amount
if truck is less than 10 so he can give declaration and pan no to deducter for not deducting tds
Sir we can saw income higher than 7500 or 7500 is the fixed deduction and it should be multiplied with no of trucks × period of holding of trucks
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