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Section 44ae

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(Querist)
07 December 2011 One assessee owns three three wheeler goods carriage (mahindera brand). Whether these would fall within the purview of Section 44AE. Whether income would be 4500x3x12=162000.Please answer urgently.
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CA. Lohith Jagadeesh

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CA. Lohith Jagadeesh (Expert)
08 December 2011 Hi,

If its used for Plying Goods on Hire, then yes.

The Calculation done above in ur query is sufficient.

Thanks

Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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MOHD AFROZ

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MOHD AFROZ (Expert)
09 December 2011 Where three wheeler used for Commercial purpose, then the above calculation is correct.




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