Presumptive Income U/s 44AE, Income Tax

[AJAY AGRAWAL]

A transporter getting trucks on hire basis (per day or per month) & doing misc. transporting work. For that he collects payment from factories (after TDS) Can he opt for presumptive taxation u/s 44AE as he is not the owner of trucks? What if his total turnover (gross receipt from such misc. work) during the year is more than ₹ 1 Crores? & under which head his income will be assessed.

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

In my view he cannot.