Tax calbulation query
This query is : Resolved
Guest
Guest
(Querist)
20 May 2012
Gud evening experts,supose a man have 2 heavey truck and in month of dec.11 he purchased new heavey truck.Than my query is that how i will calculated my tax .Means in new truck will i calculate tax monthly vise or whole year 5ooo*3 =15ooo.What will calculation
21 May 2012
Calculate the income for each truck separately.
Trucks 1 & 2 (owned throughout the year)
5,000*2*12 = Rs. 1,20,000
Truck 3 (Dec to March)
5,000*4 = Rs. 20,000
Total income u/s 44AE = Rs. 1,40,000
Trucks 1 & 2 (owned throughout the year)
5,000*2*12 = Rs. 1,20,000
Truck 3 (Dec to March)
5,000*4 = Rs. 20,000
Total income u/s 44AE = Rs. 1,40,000
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