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.
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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
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