Income-tax Act, 1961

Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages.

44AE. (1) Notwithstanding anything to the contrary contained in sections 28 to 43C, in the case of an assessee, who owns not more than ten goods carriages at any time during the previous year and who is engaged in the business of plying, hiring or leasing such goods carriages, the income of such business chargeable to tax under the head "Profits and gains of business or profession" shall be deemed to be the aggregate of the profits and gains, from all the goods carriages owned by him in the previous year, computed in accordance with the provisions of sub-section (2).

(2) For the purposes of sub-section (1), the profits and gains from each goods carriage,-

(i)	-	being a heavy goods vehicle, shall be an amount equal to one thousand rupees per ton of gross vehicle weight or unladen weight, as the case may be, for every month or part of a month during which the heavy goods vehicle is owned by the assessee in the previous year or an amount claimed to have been actually earned from such vehicle, whichever is higher;
(ii)	-	other than heavy goods vehicle, shall be an amount equal to seven thousand five hundred rupees for every month or part of a month during which the goods carriage is owned .... To read the full section download the app from Google Play store Latest Job Openings View all ARTICLESHIP 18 September 2026 Industrial Trainee Twenty Point Nine Five Ventures Private Limited Noida CA Inter View Details 22 September 2026 Account Assistant Chirag P Shah & Co. Chartered Accountant Pune B.Com View Details ARTICLESHIP 28 September 2026 Junior Accountant J S P M & Associates LLP Pune B.Com View Details ARTICLESHIP 16 September 2026 Article Assistant MANUJ SHARMA AND COMPANY Noida CA Inter View Details 16 September 2026 Internal Audit - Team Lead Consulting & Beyond Chennai CA View Details 09 September 2026 Chartered Accountant Aviv Global Private Limited Ahmedabad CA View Details Featured 11 September 2026 Audit Executive RBSM Corporate Advisors Private Limited Pune CA View Details ARTICLESHIP 30 September 2026 CA Article Assistant CA Suraj Garg & Associates New Delhi CA Final View Details Share  Facebook  Twitter  Linkedin  Reddit  Email  Whatsapp  Gmail  Print  PDF Finance and Tax WhatsApp groups list CCI All Updates (WA Group) CCI All Updates (WA Channel) CCI All Updates (Telegram Channel) GST Income Tax CA Final CA Inter CA Foundation CCI Jobs CS CCI Webinars CCI Pro Login at CAclubindia CAclubindia India's largest network for finance professionals User Name Password Remember Me Forgot Password ? Alternatively, you can log in using: Login with Google Don't have an account? Register Now click here to register Follow Us