I need an general overview abt that 44ab, 44ae and 44af acts. Please give me some details on it.
Priyanka Kala (Student CA & CS) (1397 Points)
04 June 2008I need an general overview abt that 44ab, 44ae and 44af acts. Please give me some details on it.
CA Chaitanya
(PRACTISING CA)
(4283 Points)
Replied 04 June 2008
44ab is about audit of accounts.
44ae is presumptive income of the assesses carrying on the business of plying leasing ort hiring of trucks.
44af is the presumptive income of assesses engaged in the retail business whose gross receipts doesnot exceed 40 lakhs.
Priyanka Kala
(Student CA & CS)
(1397 Points)
Replied 05 June 2008
i have some 44 rule out of this is applicable for goods trains...which suits of above then??
CA Ravish Trivedi
(The Possibilities are Infinite...)
(772 Points)
Replied 03 September 2008
sec 44AF doesn't apply on goods train the word goods vehicle is used in this sec.
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