Income tax section 44ae

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MOHD AZID (Querist)
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12 March 2015 My client doing the transport business. He has not own any trucks. He received order from paper mills on phone. Then he calls to truck owners, after that truck owners send their trucks to paper mills & my client issue his transport firm bilti. My client received all freight payment by cheques from paper mills & made cash payment to truck owners. can my client file his ITR u/s 44AE? If not, then tell other provisions.
Looking for earliest reply.
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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 March 2015 no as only the owners of truck can make use of sec 44AE...U need to file itr 4 or 4S only

MOHD AZID

MOHD AZID (Querist)
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12 March 2015 My client & his other 4 brothers & his mother sold urban parental agriculture land for Rs. 1 crore through a single registry. All 6 indidiuals were nominees of said agriculture land. All 6 individuals purchased further agriculate land for Rs. 1 crore in the name of mother only.

can all 5 brothers claim deduction u/s 54B?

looking for earliest reply.
Regards

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 March 2015 https://www.caclubindia.com/experts/capital-gain-2021059.asp

MOHD AZID

MOHD AZID (Querist)
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12 March 2015 Thanks Tushar Sir for your valuable reply.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 March 2015 you are welcome mohd azid.............

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