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SEC 44AE

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 July 2010 IS LIMIT OF 40 LAKHS for tax audit is APPLICABLE IN CASE OF SEC 44AE ALSO i.e. business of plying, hiring or leasing of truck
???
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
22 July 2010 NO EITHER YOU CAN OPT FOR 44AE OR 44AB
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
22 July 2010 No. Criterion is number of vehicles.
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srinath

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srinath (Expert)
22 July 2010 agreed with warrier sir
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
22 July 2010 Section 44AE provides for a method of estimating income from the business of plying, hiring or leasing trucks owned by a taxpayer owning not more than 10 trucks. But the scheme is optional.

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