banner_ad

Section 44ae

This query is : Resolved 
Profile Image

Profile Image

(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
Profile Image

Dintakurthi Tirumala

Profile Image

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
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details