I have 3 truck of Gross weight of 32 MT each.
If opted 44AE then it will be 1000 per tonne which will result in heavy profit which is actually not.
I can't file return under 44AE
Under which section should I file and whether TAX audit is applicable.??
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Whether Tax Audit Applicable
Replies (3)
If gross waight is exceeds 12000 kg that 12Tons.. It will categoried as heavy goods vehicle.
If u have only three truck can opt 44AE
If u have only three truck can opt 44AE
You can file ITR3 with books of accounts maintained, with actual profits declared for assessment. No audit mandatory, if turnover doesn't exceed 1 Cr.
Opting 44AE will result in actual profit
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