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.
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
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