Sec44ae

This query is : Resolved

GAURAV JAIN (Querist)
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25 January 2017 Maine ek heavy vehicle loan per purchase kar liya and I want to give to my friend @Rs 5000/_ per month on rent. Can I do that..?
Kya all income from vehicle mere friend ki income Maani jayegi..??

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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25 January 2017 Income from plying of heavy vehicle (if it is a goods carriage) may be shown u/s 44AE by the friend since it is he who will run such vehicle.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 January 2017 Only owners of the vehicle is covered U/s 44AE. Hired income is eligible for consideration u/s 44AE. You have to show a monthly income per vehicle Rs. 7,500.

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