Section 44AE
This query is : Resolved
27 March 2017
In sec. 44AE if at the beginning of the year in April assessee has 9 goods carriage and then from May they increased say 20 then also estimated income if Rs. 7500 pm. I.e 7500*9*1+7500*11*20. Here wording of section is who own not more than 10 goods carriage at "any" time..? Whether this will be calculated as above?
CA Gopal Somani
(Expert)
27 March 2017
If assessee owns more than 10 goods carriage at any time during the year then he will not be eligible for section 44AE
28 March 2017
You mean to say as in sec 194C there is a circular 19/2015.. the same reasoning of that circular applied here
Dhirajlal Rambhia
(Expert)
24 October 2021
Yes, take the meaning of "anytime" in the act..
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