is the owner of Ola & Uber can Opt for any Presumptive Taxation Scheme......??
Please Reply Asap
6 Replies
Shivangi Garg
(Practicing Chartered Accountant)
(110 Points)
Replied 11 February 2017
Sec 44AD for presumptive taxation can be availed.
gopal
(student)
(212 Points)
Replied 11 February 2017
first of all....
owner of ola... Bhavish agrwal
owner of Uber... Garrett Camp....
so ask question with little care.....
owner of ola... Bhavish agrwal
owner of Uber... Garrett Camp....
so ask question with little care.....
Sanjay S
(Chartered Accountant)
(1375 Points)
Replied 12 February 2017
| Originally posted by : gopal | ||
 |
first of all.... owner of ola... Bhavish agrwalowner of Uber... Garrett Camp....so ask question with little care..... |  |
I was also wondering... Why would the "Owners" of Ola and Uber want to opt for 44AD..considering the kind of money they rake in..
Anyway.. income from running a taxi-on-hire is eligible for presumptive taxation u/s 44AD.
But if the assessee is running a Taxi Agency business, where the income is by way of commission, then 44AD cannot be claimed (since in such case, its becomes an ineligible business).
Arun Gupta
(Tax Professional )
(222 Points)
Replied 13 February 2017
Sir,
Can Owner of Cabs can avail presumptive taxation scheme u/s 44AE
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