SECTION 40AE
This query is : Resolved
04 October 2010
IN P.G.B.P SECTION 40AE LEASING, HIRING OF TRUCKS, WHAT ARE THE TAXABLE LIMITS OF HEAVY AND LIGHT/MEDIUM GOODS? THANKS IN ADVANCE
05 October 2010
I think you are talking about section 44AE.
Under Section 44AE the income per vehicle is as follows:
Upto A.Y. 2010-11
Heavy Good Vehicles Rs. 3500 per month
Light Good Vehicles Rs. 3150 per month
Upto A.Y. 2011-12
Heavy Good Vehicles Rs. 5000 per month
Light Good Vehicles Rs. 4500 per month
Under Section 44AE the income per vehicle is as follows:
Upto A.Y. 2010-11
Heavy Good Vehicles Rs. 3500 per month
Light Good Vehicles Rs. 3150 per month
Upto A.Y. 2011-12
Heavy Good Vehicles Rs. 5000 per month
Light Good Vehicles Rs. 4500 per month
06 October 2010
40AE is presumptive scheme of taxation. The benefit of the section is available only is ownership of goods carrier does not exceed 10.
Income is presumed at rates given by Ankit
Income is presumed at rates given by Ankit
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- Journal entry of busniess expenses
- LIC maturity claim whether taxable
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
