Section 44 ae
This query is : Resolved
16 November 2017
Section 44 AE was Applicable in A Y 2010-2011 or not if applicable what is the per vehicle limit and how much maximum vehicle.
thanks in advance
thanks in advance
17 November 2017
Section 44AE – Business of plying, leasing or hiring trucks (Provision for A.Y. 2010-11 )
Any person engaged in the business of plying, leasing or hiring of trucks if he owns not more than 10 goods carriages at any time during the previous year including those taken on hire purchase or on instalments. This scheme does not apply to those who operate trucks on hire without owning them (Circular 684, dt. 10-6-1994)
For Heavy Goods Vehicle -Estimated Income is Rs. 3,500 for every month (or part of a month) during which the goods carriage is owned by the taxpayer.
For Other than Heavy goods vehicle Estimated Income is Rs. 3,150 for every month (or part of a month) during which the goods carriage is owned by the tax-payer.
Any person engaged in the business of plying, leasing or hiring of trucks if he owns not more than 10 goods carriages at any time during the previous year including those taken on hire purchase or on instalments. This scheme does not apply to those who operate trucks on hire without owning them (Circular 684, dt. 10-6-1994)
For Heavy Goods Vehicle -Estimated Income is Rs. 3,500 for every month (or part of a month) during which the goods carriage is owned by the taxpayer.
For Other than Heavy goods vehicle Estimated Income is Rs. 3,150 for every month (or part of a month) during which the goods carriage is owned by the tax-payer.
17 November 2017
for heavy Rs.3500 per month per vehicle
for LCV Rs.3150 per month per vehicle
for LCV Rs.3150 per month per vehicle
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- Loan by Partnership Firm
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Last year TDS Claim
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
