44 ae
This query is : Resolved
Lakshmypriya T.G
(Querist)
16 November 2013
Assesee has got 5 heavy vehicles. During the assessment year 2013-14 the vehicles generated an income of 600000/- which income i need to disclose whether this 600000/- or 5*12*5000=300000. please give me a reply as soon as possible.. its urgent..
CA.Manoj Jaiswal
(Expert)
16 November 2013
As per section 44 AE the profits and gains from vehicles shall be 5*12*5,000= 3,00,000/-
Nikhil Kaushik
(Expert)
16 November 2013
agreed with Manoj.
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