Section 44ae

This query is : Resolved

phanikumar (Querist)
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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.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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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

CA R SEETHARAMAN (Expert)
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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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