truck hired on fixed amount
VIKAS KUMAR SHARMA (GST Practioner) (694 Points)
31 July 2019Now query raising whom can eligible to opte to presumtive income 44AE real owner of truck? Or second party?
Please advise
Regards
VIKAS KUMAR SHARMA (GST Practioner) (694 Points)
31 July 2019
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 31 July 2019
Presumptive Tax under 44 AE of the Income Tax act 1961 is applicable to owner of the truck , having less than 10 truck or goods carriage .
please confirm with others also .
Shivam RC
(Student)
(23683 Points)
Replied 01 August 2019
VIKAS KUMAR SHARMA
(GST Practioner)
(694 Points)
Replied 01 August 2019
what about second party whom hired truck on yearly fixed amount?