Section 44ae
This query is : Resolved
phanikumar
(Querist)
11 June 2015
Dear Professionals,
Kindly provide your views on the below query
My query is with respect to section 44AE
IF the transporter owns 6 trucks and 3 trucks taken on hire . Whether the income can be computed under the section 44AE.
Dear Professionals,
Kindly provide your views on the below query
My query is with respect to section 44AE
IF the transporter owns 6 trucks and 3 trucks taken on hire . Whether the income can be computed under the section 44AE.
11 June 2015
In my opinion yes since the words used in section 44AE is 'owned' and since the assessee does not own more than 10 trucks he is eligible.
CA R SEETHARAMAN
(Expert)
11 June 2015
This scheme does not apply to those who operate trucks on hire without owning them (Circular 684, dt. 10-6-1994).
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