A persion having income by way of Transportion business.
He hires vehicles from X and pays Frieght to X and supplies those vehicles to Y and in return he gets Freight from Y.
The difference between these freights is his income.
Which section of presumptive income applies to him Sec. 44AE or 44AD?
Regards.
section 44AE will not apply in this case... that will applicable in case of heavy vehicle owned by assesse.
Then in this case can that person compute his total income just deductign his all expeses from the receipts?
If no, kindly suggest in what way he should compute the income?
Regards,
CAclubindia
