44AE or 44AD adoption

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112 Points Posted on 21 January 2021
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?
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On 21 January 2021 at 21:21 Report
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Quick Summary
This discussion clarifies whether an assessee owning more than 10 goods carriage vehicles, who is eligible for presumptive taxation under Section 44AE, can also opt for Section 44AD. The consensus is that you cannot claim both. Section 44AE is specifically for businesses involving goods carriages, making it mutually exclusive with Section 44AD, which excludes businesses covered under 44AE.

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Chartered Accountant
24588 Points Posted on 21 January 2021
44AE should be applicable
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On 21 January 2021 at 21:34
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215 Points Posted on 21 January 2021
According to my opinion,
No you can not opt for 44AD , as Both sections are mutually exclusive
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On 21 January 2021 at 21:38
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112 Points Posted on 21 January 2021
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...
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On 21 January 2021 at 21:55
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215 Points Posted on 21 January 2021
Refer Explanation (b) to section 44 AD it provides that eligible business means all business except business specified u/s 44AE
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On 21 January 2021 at 21:58
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112 Points Posted on 21 January 2021
Okk....now understand ....

thank you soo much
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On 21 January 2021 at 23:13
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17269 Points Posted on 22 January 2021
44AE is a specific section for a specified business. So 44AD can't be used.
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On 22 January 2021 at 14:18
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Accountant
4533 Points Posted on 23 January 2021
In case of vehicle carries section 44ae is applicable
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On 23 January 2021 at 23:42
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Chartered Accountant
86505 Points Posted on 23 January 2021
No you can't opt 44AD
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On 23 January 2021 at 23:58

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