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Guest

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Guest (Querist)
15 May 2012 gud morning sir,
suppose a man have 3 havey vechile.but he used his friend transport co. bilty.( docate).he have saving account and total income approx 10 lakh.. than sir can u tell me only this will he fill return u/s 44ae and his total tax will be

5000*3=15000
15000*12=180000
than no tax liablity for the fy. 2011-12
plz reply

2-sir my another query is that no role of turn over in case of u/s 44ae. while he have saving account and turn over 10 lakh.
3- what document he will prepare when he fill return u\s 44ae
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
15 May 2012 1. Yes he will file return u/s 44AE since he is the OWNER of the trucks.

2. U/s 44AE turnover is NOT to be considered. Only criteria is that the assessee should not own more than 10 trucks at any time during the previous year.

3. He does not need to prepare any document to be submitted with the return. Only the return is to be filed.
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