CA
770 Points
Joined July 2008
Yes, subject to certain conditions:
1. assessee must be individual, huf and partnership firm,
2. assessee should not be carrying on eligible business that is other than plying hiring or leasing of goods carriages
3.Turnover or gross receipt does not exceed 60 lacs in the previous year.
For more details, refer the following article submitted by Mr. Amol Gopal Kabra
/articles/new-section-44ad-text-and-discussion-9713.asp