section 44AE

what is the minimum income as per sec 44AE for light and heavy vehicle?
Replies (2)

As per amendments  in  finance act 2018  Section 44AE  applicable for F.Y 2018-19

Taxpayer  who owns not  more than 10 goods carriage and is engaged  in the busniess of plying , hiring or leasing goods carriage , his income would be deemed as follows

1) Light goods vehicles (less than 12 Metric ton - Gross weight vechicle ) Rs 7500/- per vehicle per month . 

2) Heavy goods vehicle ( More  than 12  M.T- gross weight vechile ) Rs 1000/- per ton per vechicle per month 

can you define the Gross Weight Vehicle?

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