Section 44ae
This query is : Resolved
bhushan gupta
(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.
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
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
MOHD AFROZ
(Expert)
09 December 2011
Where three wheeler used for Commercial purpose, then the above calculation is correct.
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