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SECTION 44AE

This query is : Resolved 
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(Querist)
26 March 2010
SIR
KINDLY PROVIDE LEAVY OF CONDITION UNDER SECTION 44AE FOR THE FINANCIAL YEAR 2008-09.
IT MOST URGENT.
AKBAR
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Rahul Gupta

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Rahul Gupta (Expert)
26 March 2010 Conditions >
1. Person who owns not more than ten goods carriages at any time during the previous year and who is engaged in the business of plying, hiring or leasing such goods carriages.
2. If this section is applied then no deduction is available under provisions of sections 30 to 38 (Business Expenditure).
3. Person is not required to maintain books of account and get it audited.
4. Person can Claim lower profits than considered in this section , but then he is required to maintain books of accounts and get its accounts audited.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
27 March 2010 agreed
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