44AE under IT Act

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CA Final Student
120 Points Posted on 01 March 2021
whether to applicability of sec 44AE ownership of vehicles is mandatory by assessee.
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On 01 March 2021 at 17:09 Report
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This discussion clarifies the applicability of Section 44AE of the Income Tax Act concerning vehicle ownership. It confirms that individuals owning fewer than 10 trucks can opt for this presumptive taxation scheme. The consensus is that ownership of these vehicles is a key factor for eligibility under Section 44AE.

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GST Practitioner & Accounts
15146 Points Posted on 01 March 2021

Yes , Less  than 10   vehicles (Trucks)  owner   can opt  for  Sec44  AE  of the I T act . 

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On 01 March 2021 at 18:08
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Chartered Accountant
24588 Points Posted on 01 March 2021
Agree with prasad
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On 01 March 2021 at 20:50

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