44ae - return
This query is : Resolved
30 May 2019
Facts : Mr.A buys truck (tipper) and give it to Mr.B on hire. Mr. B agreed to give Rs.40000 per month to Mr.A for using his truck for running them on hire.
Query : Can Mr.A file return using section 44AE. Point of question is that whether section 44AE covers only the case of running truck(tipper) on hire by self or by any other person??
Query : Can Mr.A file return using section 44AE. Point of question is that whether section 44AE covers only the case of running truck(tipper) on hire by self or by any other person??
30 May 2019
Yes. A is eligible to show his profits U/s 44AE. There is no differentiation in hire charges so as to classify them into fixed or variable hire charges income.
Message likes :
1 times
31 May 2019
Yes you are eligible to opt for Sec 44AE
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- RELATED TO TRIBUNAL APPEAL
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- TDS AND ITR ISSUE
- Sec 44ada applicable only or both
- GST Rate for Catering Services
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- Journal entry of busniess expenses
- Cash balance limit and property purchases limit
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
