TR filing for Transporters

An original transport contractor providing trucks to Govt organisation and full amount of agreed contract rate transferring to the transport contractor’s bank account. But, the transport contractor hiring the trucks from truck owners, transport agencies  & transport brokers and 95 % of the cash directly paying to the above parties .Only 5 % of the amount is actually crediting to his account  as business income for  whole operation of the contract and  all the balance amount paying to the supplier by cash for their taxable expenses( Diesel ,oil , vehicle maintenance etc )  . How the original transport contractor opt which presumptive method for filing IT returns like 44 AE, 44 ADA ,44 AD
The transporter does not owns any trucks

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1 Answer(s)

Its like a Commission agent and person having income like commission cant make use of Sec 44AD

TaxIQ Answered on April 13, 2018.
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