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confused about tax

Tax queries 185 views 4 replies
sir I have 5 trucks and paying his installment approx 1 lack than what is the income tax 7500 per truck per month or any other rule is applicable
Replies (4)

as  per 44 ae u  should not have more than 10 vechicle then

7500/-, is applicable per vechicle per month 

but sir truck payment is giving me by cheque 2 lack per month
u/s 44AE you have to show minimum of Rs.7,500 per truck for a month.

if your actual income is above the Rs. 7,500 per truck for a month , you have to show the actual amount.
thank u sir


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