PRESUMPTIVE INCOME SEC 44AD 4AE

[MITHUN SAHA]

THERE IS A AN INDIVIDUAL TAXPAYER WHO CARRIES ON BUSINESS OF SUPPLYING SAND and BAJRI USING OWN VEHICLES , AND CHARGING THE CUSTOMERS FOR SAND and BAJRI, PLS ADVICE IF THAT PERSON PAYS TAX ON PRESUMPTIVE BASIS WHICH SECTION IS APPLICABLE SECTION 44AD OR SECTION 44AE

THANKS

M SAHA

[K.S.AIYAR & CO.]

As the individual is in the business of supplying Sand and Bajri, section 44AD will apply.

AI Summary

Presumptive taxation under section 44AD applies to supply of sand and bajri using owned vehicles. The business of supplying sand and bajri carried on by an individual using owned vehicles and charging customers is advised to fall within the scope of Section 44AD, and the adviser indicates that Section 44AD will apply for presumptive taxation rather than the alternative provision raised in the query.