44ae - return
This query is : Resolved
30 May 2019
Facts : Mr.A buys truck (tipper) and give it to Mr.B on hire. Mr. B agreed to give Rs.40000 per month to Mr.A for using his truck for running them on hire.
Query : Can Mr.A file return using section 44AE. Point of question is that whether section 44AE covers only the case of running truck(tipper) on hire by self or by any other person??
Query : Can Mr.A file return using section 44AE. Point of question is that whether section 44AE covers only the case of running truck(tipper) on hire by self or by any other person??
30 May 2019
Yes. A is eligible to show his profits U/s 44AE. There is no differentiation in hire charges so as to classify them into fixed or variable hire charges income.
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31 May 2019
Yes you are eligible to opt for Sec 44AE
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