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Sec.44 ae

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(Querist)
02 May 2014 Dear Experts,
Please tell if an assesse is owner of a truck even for a day, whether it would be counted for whole month for computing profit as per sec 44AE?? Do reply ...
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
03 May 2014 Yes. A single day is also a part of the month. So even for a day's ownership, 1 month income is required to be taken in the return.
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Harish

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Harish (Querist)
03 May 2014 Thank you sir for your valuable reply.
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