My Client has business of giving on hire basis Road Roller, Excavator, JCB Machines etc.All above are owned by My Client.His annual income is below 40 Lakhs. My query is whether he can filed his returned U/s 44AE or it is considering as hiring of Machinery and comes under Income from Other Source or Hiring income under Business Head and he has to prepare P& L A/c & maintain Books of A/c? Pl. Reply
21 May 2008
Motor Vehicle Act 1988 sec 2 (14) "goods carriage" means any motor vehicle constructed or adapted for use solely for the carriage of goods, or any motor vehicle not so constructed or adapted when used for the carriage of goods; (16) "heavy goods vehicle" means any goods carriage the gross vehicle weight of which, or a tractor or a road-roller the unladen weight of either of which, exceeds 12,000 kilograms;
section 44AE required audit of operators of "goods carriage" or "heavy goods vehicle" as described in above act.
so, if u operate road-roller u are liable to audit if u fulfil other conditions like no. of roadrollers etc.
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