44 af
This query is : Resolved
07 March 2012
DEAR SIR,
MY CLIENT IS A TRANSPORT PROPERITERSHIP.HAVING 5 HEAVY TRUKS.TOTAL INCOME IS ARROUND 5 LACS AFTER DEPRECIATION.
SIR I WANT TO KNOW CAN WE FILE OUR IT RETURN UNDER 44AF?
ALSO I WANT TO KNOW DEPRECIATION AMOUNT
WOULD BE ADDED IN THAT TOTAL INCOME?
MY CLIENT IS A TRANSPORT PROPERITERSHIP.HAVING 5 HEAVY TRUKS.TOTAL INCOME IS ARROUND 5 LACS AFTER DEPRECIATION.
SIR I WANT TO KNOW CAN WE FILE OUR IT RETURN UNDER 44AF?
ALSO I WANT TO KNOW DEPRECIATION AMOUNT
WOULD BE ADDED IN THAT TOTAL INCOME?
07 March 2012
Yes you can file return u/s 44AE (not 44AF).
The income shall be 5,000*5trucks*number of months for which each truck is owned.
Depreciation is assumed to be allowed in such a case.
The income shall be 5,000*5trucks*number of months for which each truck is owned.
Depreciation is assumed to be allowed in such a case.
10 March 2012
The amount is EXACT Rs. 5,000/- per truck per month. You cannot show income less than Rs. 5,000/-.
However, you can show a higher amount if you want.
However, you can show a higher amount if you want.
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