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Minimum income under section 44 ae

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(Querist)
28 July 2014 what is the new minimum income under section 44 ae for light goods vehicle
is it changed or 4500 as earlier
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
28 July 2014 There is no change in Section 44AE. The minimum income is 5000 per truck per month for Heavy vehicle & 4500 per truck per month for other than Heavy vehicle
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jatin

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jatin (Querist)
28 July 2014 in a.y 2015-16 is it same but in budget i thing there is some change in this section
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
28 July 2014 For AY 2015-16 the limit is a uniform limit of Rs. 7500 per vehicle per month irrespective of the type of vehicle. This is as per Finance Bill 2014.
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
28 July 2014 For AY 2015-16, the amount is increased to 7500 pm for all types of vehicle.
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