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 Threads
- ITR-3 and ITR-4 Options Missing for Updated Return
- NRO BANK INTEREST CERT. DATA AND VICE VERSA WITH
- What is the Correct GST Rate For Renewable Energy
- Schedule 112A-uploading with CSV file issues
- Audit opinion
- How to Calculate Income from Partially Let-Out Pro
- GST paid in cash
- Jobwork in gold business...reg
- Journey entries
- Under what head this income should be added
Related Threads
CAclubindia
