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Section 44AE

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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?
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CA Gopal Somani

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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
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vishal

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vishal (Querist)
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
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
24 October 2021 Yes, take the meaning of "anytime" in the act..
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