Minimum income under section 44 ae

This query is : Resolved

jatin (Querist)
Follow

28 July 2014 what is the new minimum income under section 44 ae for light goods vehicle
is it changed or 4500 as earlier

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

28 July 2014 There is no change in Section 44AE. The minimum income is 5000 per truck per month for Heavy vehicle & 4500 per truck per month for other than Heavy vehicle

Message likes : 1 times

jatin

jatin (Querist)
Follow

28 July 2014 in a.y 2015-16 is it same but in budget i thing there is some change in this section

Upgrade to CAclubindia Pro. Subscribe Now!

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

28 July 2014 For AY 2015-16 the limit is a uniform limit of Rs. 7500 per vehicle per month irrespective of the type of vehicle. This is as per Finance Bill 2014.