good mng to all CA EXPERTS.
I HAVE TWO BUSES. CAN I DECLARED INCOME U/S 44 AE . THE TWO BUSES GIVEN TO CONTRACT TO APSRTC. I HAVE RECEIVED RECEIPTS FROM APSRTC WITH TDS 194C.IN THIS REGARD CAN DECLARE INCOME U/S 44 AE. BUS WEIGHT AROUND 17 TONNES.
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44AE Income tax
Replies (4)
Section 44 AE applicable on Goods Carriage not in Person.
No, Sec 44AE benifit is not available in your case, as it's available only for GOODS Carriage Vahicle, not for passenger vehicles..
Thanking u sir
Most welcome........
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