Taxation of Goods Carrying Vehicle U/s 44AE

Yog Raj (Accountant) (155 Points)

06 June 2020  

IF A TRUCK HAS UNLADEN (EMPTY) WEIGHT 10 TONNE AND CERTIFIED GOODS CARRYING LOAD IS 25 TONNE, MEANS TRUCK'S MAXIMUM WEIGHT CAN BE 35 TONNE WHILE IN TRANSIT.

WHAT WILL BE ITS TOTAL INCOME UNDER SECTION 44AE OF INCOME TAX ACT FOR THE FINANCIAL YEAR 2019-20 IF IT WAS IN OPERATION FOR ALL THE MONTHS?