44ae
Querist : Anonymous
u/s 44ae not applicable when turnover exceeds 1 crore.
Querist : Anonymous
Section 44AE
Applicable: Assessee engaged in business except plying, hiring or leasing goods carriages and who owns not more than 10 goods carriages anytime during the previous year. However unlike s. 44AD, there is no condition of maximum turnover of the assessee. Assessee shall be deemed to owner of goods vehicles taken on higher purchase or on instalment, whether whole or part of the amount is payable, when such vehicles are in possession of such assessee.
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
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