Sec 44 ae

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abhishek pisat (Querist)
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26 December 2013 my client has 4 trucks on rent. a company which is hiring the truck is not deducting tds from rent. form no 26As showing only rent amount u/s 194c which received by he. can he claim 5000 p.m. u/s 44ae as declare income or fill ITR-4 as per 26as amount.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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26 December 2013 Yes he is eligible for Section 44AE and can show Rs. 5,000 per month per truck in the return.

He will file ITR4S.

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abhishek pisat

abhishek pisat (Querist)
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26 December 2013 Is it concern how much he earn from one truck?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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28 December 2013 His actual earning is irrelevant.

The only condition is that he should own not more than 10 trucks at any time during the year.

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