Presumptive Income 44AE

Express ITR || How to Enter Presumptive Income 44AE

Section 44AE: Presumptive Taxation for Transport Businesses

Step 1: Open the relevant client profile or click the "Prepare" button.

      
Step 2: Navigate to the 'Business and Profession' section, then click 'Add Business'.

      
Step 3: In the 'Presumptive' section, create the business entry. Select the appropriate business type (44AE) and provide the necessary details regarding the nature of the business. Once completed, click 'Done' or press the 'Esc' key to save.

      

Step 4: Open the Consolidated Schedule BP. Look for the option labeled "Profits and Gains of Business or Profession in Presumptive Income", and click the calculator icon next to Section 44AE.

      

Step 5: Enter the vehicle details, actual profit, and financial particulars in the provided annexure. Once all the information is entered, click 'Done' or press 'Esc' to save the data.

      

By following these steps, you will successfully enter presumptive income under Section 44AE.

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