Question

Income of a non-
resident from shipping
business is
a.Taxable in the same Financial
year in which it is earned

b.Taxable in next financial year

c.Taxable in preceding
Financial Year

d.Taxable after two years​

Answer 1

Explanation:

The assessee who is covered us 172 and 44B is not required to maintain the books of accounts and get his accounts audited us 44AB in no cases. since section 44AA and 44AB doesn't covered 44B transactions. Hence even if they report the normal income lower than what is calculated us 172 , then also they is not required to maintained the books of accounts us 44AA and get his accounts audited us 44AB.