Section 44ae
This query is : Resolved
Pradip Gupta
(Querist)
03 March 2014
Hello
I Wants to know that
if i am owning 5 LMV(taxi) and use it for movement of person /school children
can it be covered under 44AE for presumptive income sub to condition i am not covered in tax audit
is taxi is covered in defination of vehicle in 44AE
please advise
I Wants to know that
if i am owning 5 LMV(taxi) and use it for movement of person /school children
can it be covered under 44AE for presumptive income sub to condition i am not covered in tax audit
is taxi is covered in defination of vehicle in 44AE
please advise
Dintakurthi Tirumala
(Expert)
03 March 2014
Section 44AE covers and applicable for the goods transport vehicles only but not for the human being transport vehicles.
So for your case section 44AE doesn't apply.
OM SAI SRI SAI JAI JAI SAI
So for your case section 44AE doesn't apply.
OM SAI SRI SAI JAI JAI SAI
03 March 2014
Section 44AE is applicable only to GOODS CARRIAGES.
Taxi is NOT covered under goods carriages.
So you CANNOT opt for Section 44AE.
However, you can opt for Section 44AD if you fulfill the conditions mentioned therein.
Taxi is NOT covered under goods carriages.
So you CANNOT opt for Section 44AE.
However, you can opt for Section 44AD if you fulfill the conditions mentioned therein.
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