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SEC 44AE

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 July 2010 IS LIMIT OF 40 LAKHS for tax audit is APPLICABLE IN CASE OF SEC 44AE ALSO i.e. business of plying, hiring or leasing of truck
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
22 July 2010 NO EITHER YOU CAN OPT FOR 44AE OR 44AB
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
22 July 2010 No. Criterion is number of vehicles.
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srinath

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srinath (Expert)
22 July 2010 agreed with warrier sir
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
22 July 2010 Section 44AE provides for a method of estimating income from the business of plying, hiring or leasing trucks owned by a taxpayer owning not more than 10 trucks. But the scheme is optional.
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