Section 44AE
This query is : Resolved
05 December 2007
A Person has a car. He use it for delevery of news paper bundles of HT and Charged hire for it.The number of car is not commercial.
Whether this income is shown under 44AE or maintain seperate Books for it.
H S B
Whether this income is shown under 44AE or maintain seperate Books for it.
H S B
06 December 2007
Section 44AE- says about 'goods carriage' and as per explanation given with the section- 'Goods Carriage' shall have the same meaning as assigned to it in section 2 of the Motor Vehicles Act, 1988 (59 of 1988).
As per the Motor Vehicles Act- Section 2(14) "goods carriage" means any motor vehicle constructed or adapted for use solely for the carriage of goods, or any motor vehicle not so constructed or adapted when used for the carriage of goods;
Acordingly, it appears that a car if used as goods cariage will also fall under the ambit of section 4AE.
However, it is advisable here to get it confirmed that whether the assessee is utilising that goods carriage in the business of plying, hiring or leasing or he is using the car for executing in transportation contract.
Section 44AE- says about 'goods carriage' and as per explanation given with the section- 'Goods Carriage' shall have the same meaning as assigned to it in section 2 of the Motor Vehicles Act, 1988 (59 of 1988).
As per the Motor Vehicles Act- Section 2(14) "goods carriage" means any motor vehicle constructed or adapted for use solely for the carriage of goods, or any motor vehicle not so constructed or adapted when used for the carriage of goods;
Acordingly, it appears that a car if used as goods cariage will also fall under the ambit of section 4AE.
However, it is advisable here to get it confirmed that whether the assessee is utilising that goods carriage in the business of plying, hiring or leasing or he is using the car for executing in transportation contract.
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Banking Related Issue
- Traces submitting correction statement error
- Difff in ais receipts and gst turnover
- ASMT-10 received from A O
- IT returns for fresh job holders
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Gst on travel by air for business purposes
- Loss of interest in PF transfer from EPFO to Trust
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
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
