I am a Transporter, i have a Truck ,. I receive Total Freight Amount in the FY 18-19 Rs : 729544/-,
Truck was purchase in Dec-2018.
What is my Taxable Income for the FY 2018-2019?
and which amount fill in Income tax Return ? & Which Return is suitable for me ITR -I or ITR-IV.
Please advise me.
| TILL 12MT(12000 KG),WE ARE SMALL TRUCK | |||||
| FOR A.Y 2019-20 IF TRUCK WEIGHT IS MORE THAN 12 MT THEN PROFIT WILL BE | |||||
| CALCULATE ( METRIC TON*1000*NO. OF MONTH USE) | |||||
| IF TRUCK WEIGHT IS LESS THEN OR UPO TO 12 MT THEN PROFIT WILL BE | |||||
| FOR F.Y. 2018-2019 | (IF TRUCK WEIGHT IS MORE THEN 12 METRI TONE) | ||||
| Truck No. | Reg No | Mt | Profit per truck | No. of month used | Annual profit |
| 1 | DL01P3212 | 30 | 1000 | 4 | 120000 |
| TOTAL | 120000 | ||||
| Particulars | Amt |
| Income from Salary | 0 |
| Income from House Property | 0 |
| Profit and Gains of Business and Professions | 120000 |
| Income from Other Sources | 0 |
| Gross Total income | 120000 |
| Less | |
| Deduction Under 80C | 0 |
| Deduction Under 80TTA | 0 |
| Net Total income | 120000 |
| Tax | 0 |
| Rebate | 0 |
| Net Tax | 0 |
| Cess @ 4% | 0 |
| Net Tax+Cess | 0 |
| ADD INTEREST | 0 |
| TAX INCL. INTEREST | 0 |
| FOR F.Y. 2018-2019 | (IF TRUCK WEIGHT IS LESS THEN OR UP TO 12 METRI TONE) | ||||
| Truck No. | Reg No | Mt | Profit per truck | No. of month used | Annual profit |
| 1 | DL 01 P3212 | N/A | 7500 | 4 | 30000 |
| TOTAL |
30000 |
||||
| Particulars | Amt |
| Income from Salary | 0 |
| Income from House Property | 0 |
| Profit and Gains of Business and Professions | 30000 |
| Income from Other Sources | 0 |
| Gross Total income | 30000 |
| Less | |
| Deduction Under 80C | 0 |
| Deduction Under 80TTA | 0 |
| Net Total income | 30000 |
| Tax | 0 |
| Rebate | 0 |
| Net Tax | 0 |
| Cess @ 3% | 0 |
| Net Tax+Cess | 0 |