Sec44ae
This query is : Resolved
GAURAV JAIN
(Querist)
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..??
Kya all income from vehicle mere friend ki income Maani jayegi..??
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
(Expert)
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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