Computation of income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 May 2012 Computation of an assessee
Net receipt from freight Rs. 241223/- (but as per Section 44 AE Rs. 3150/- @12 months Rs.37800/-)
Commission income Rs. 168500/-
bank interest Rs. 2079/-
Deduction u/c VI A Rs. 90000/-
So at last his Net Taxable income is Rs. 118379/-
Whether it is a right or wrong, if it is wrong so what is the right calculation for sec. 44 AE

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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24 May 2012 You have not mentioned the number of trucks owned by the assessee.

Assuming he owns only 1 truck, the calculation is correct.

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