SECTION 44AE
This query is : Resolved
Quick Summary
SACHIN KHETAWAT
(Querist)
14 January 2021
WHICH WEIGHT OF LORRY SHOULD CONSIDER LADEN OR UNLADEN? ANY CIRCULAR
Harshit Bangar
(Expert)
14 January 2021
the net weight which was granted by road transport authority in Registration certificate.
Dhirajlal Rambhia
(Expert)
05 November 2021
Section 2(16)- “heavy goods vehicle” Means any goods carriage the gross vehicle weight of which, or a tractor or a road-roller the unladen weight of either of which, exceeds 12,000 kilograms:
The above definitions make it clear that the assessees will have to compute the profits and gains of business under section 44AE of the Act on the basis of above definitions. It means that in respect of a “heavy goods vehicle” i.e. all goods carriage vehicle whose gross vehicle weight exceeds 12.000 kilograms, the profits and gains from each goods carriage for the purposes of section 44AE of the Act shall be at the rate of Rs. 1000/- per ton of gross vehicle weight for every month or part of the month. However in respect of a tractor or a road-roller. where the gross vehicle weight is not applicable, and unladen weight exceeds 12,000 Kilograms. the profits and gains from each goods carriage for the purposes of section 44AE of the Act shall be at the rate of Rs. 1000:- per ton of unladen weight for every month or part of the month.
The above definitions make it clear that the assessees will have to compute the profits and gains of business under section 44AE of the Act on the basis of above definitions. It means that in respect of a “heavy goods vehicle” i.e. all goods carriage vehicle whose gross vehicle weight exceeds 12.000 kilograms, the profits and gains from each goods carriage for the purposes of section 44AE of the Act shall be at the rate of Rs. 1000/- per ton of gross vehicle weight for every month or part of the month. However in respect of a tractor or a road-roller. where the gross vehicle weight is not applicable, and unladen weight exceeds 12,000 Kilograms. the profits and gains from each goods carriage for the purposes of section 44AE of the Act shall be at the rate of Rs. 1000:- per ton of unladen weight for every month or part of the month.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Royalty payments to the Mining Department for procurement of murum - GST input
- Form 144 TDS Return Validation Error – Mandatory Fields
- IMS (import of goods) ITC related
- TDS- 2026-27 Q1 Correction
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- GSTR9 Annual Return
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
