If a person carring business of Drive car on rent basis. then section 44Ae will be applicable or not. What will be rate of depreciation.
Because defination of goods carriage is complecated.
Menu
Plying, hirinf or leasing goods carriages u/s 44ae
Replies (1)
Mr.Hardik Bunha
The provisions of Section 44AE are applicable to business of plying, hiring or leasing of goods carriages. Car is not a Goods Carriage.
Please note once if you opted for presumptive tax u/s 44AE you cannot claim deprecition. Please refer to sub-section (3) of section 44AE.
Best Wishes
Sathikonda
Recent Topics :
- Belated Return where Form 10IEA filed this year to
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
- Eway and e invoicing in condition where 4 party ar
- Bank balance in ITR-3
- INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
- Tempsens Instruments IPO GMP Allotment Listing dat
- Upload Type - Correction. Not showing in TDS filli
- Partnership tax audit query
Related Topics :
CAclubindia
