Dear Expert
My client is Clearing & forwarding agent having more than 10 heavy goods vehicle & previous year it was loss, so my question is which sec applicable 44 AD or 44 AE.
kindly reply.
thanks & regards
Aparna
44 ad or 44 ae
Replies (3)
its 44AE. Taxable income is Rs. 7500 per month per vehicle.
It is not covered in either of sec 44AD or sec 44AE. Since your client owns more than 10 vehicles, presumptive business exemption u/s 44AE is not available.
@ Rocky:
Sec 44AE is applicable when vehicles are less than or equal to 10.
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
