Section 44ad & 44ae

Nishtha Narielwala (Tax Consultant) (131 Points)

27 February 2013  

Hi!
If an assessee owns 1 truck & runs 1 truck on hire, under the same business name, can the income from the owned truck be shown under section 44AE & that from the rented truck under section 44AD at the same time?

Kindly Help!

Thank you!