Section 44 ae
This query is : Resolved
Krishan Kumar Goyal
(Querist)
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.
Amol S Joglekar
(Expert)
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
- EPF ECR NEW FILE SEP 17TH 2026
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Capitalgain tax purposes for valuation report compulsory
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
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
