section 44AE

Section 44 AE  is  for computing  profits and gains  of busniess of plying , hiring or leasing goods  carriages (Transport) , same has been   amended  in this budget  .You  must have less than 10 truck  presumetive income 7500/- per truck  for purpose of computing Income  tax . 

Asessee should have not more than 10 Trucks during at time of the previous year.

What if the all the trucks are sold then whether it will be capital gain. If yes, then what's the proper treatment for computation of income in order to file return

Sourabh,
Section 44AE deals with the chapter of PGBP and not to chapter of CAPGAIN.
Hence in your case Capital gain shall be computed in accordance with section 50 of the act. And it shall be deemed that the depreciation u/s 32 has been provided to you Upto sale to you and then WDV of block of asset u/s 43(6) shall be determined.
And Capital gains / loss shall be STCG/STCL.

Hope this will meet your requirement.
Regards.

Thanks. Can we add purchase of tyres etc as improvement over the years to cost of acquisition.

Cost of tyres and other expenditures if forming part of the capital asset can be addes but if it is in the nature of revenue nature shall not be added to the block of asset.

Regards.