Section 44ae
This query is : Resolved
Guest
Guest
(Querist)
30 July 2011
if assessee is engaged in business of transport whose gross receipt exceeds rs 60 lakhs but the trucks are less than 10.
than section 44AB will attract or he can opt for section 44AE?
than section 44AB will attract or he can opt for section 44AE?
30 July 2011
Section 44AE can be opted because turn over criteria is absent in that section.
Guest
Guest
(Querist)
31 July 2011
if section 44 AE is opted than the section 44AB is violated becoz the turnover is more than 60 lakhs
CA PARAS BAFNA
(Expert)
31 July 2011
Sub Section 5 of Section 44AE -
The provisions of Section 44AA and 44AB shall not apply for Section 44AE(1) business.
So question of violation does not arise.
The provisions of Section 44AA and 44AB shall not apply for Section 44AE(1) business.
So question of violation does not arise.
31 July 2011
Consider the number of vehicles. Ignore the annual turnover if u opt 44AE.
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