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44AE or 44AD adoption
In case an assessee own more than 10 goods carriages vehicle then is now allowed to obtain benefit of 44AE in this case can he opt 44AD?
Replies (8)
Quick Summary
44AE should be applicable
According to my opinion,
No you can not opt for 44AD , as Both sections are mutually exclusive
No you can not opt for 44AD , as Both sections are mutually exclusive
But section 44AE does not contain any provision relating 44D... it only says if you show lower income then you have to get your books audited under sec 44AA...
Refer Explanation (b) to section 44 AD it provides that eligible business means all business except business specified u/s 44AE
Okk....now understand ....
thank you soo much
thank you soo much
44AE is a specific section for a specified business. So 44AD can't be used.
In case of vehicle carries section 44ae is applicable
No you can't opt 44AD
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