SECTION 40AE
This query is : Resolved
04 October 2010
IN P.G.B.P SECTION 40AE LEASING, HIRING OF TRUCKS, WHAT ARE THE TAXABLE LIMITS OF HEAVY AND LIGHT/MEDIUM GOODS? THANKS IN ADVANCE
05 October 2010
I think you are talking about section 44AE.
Under Section 44AE the income per vehicle is as follows:
Upto A.Y. 2010-11
Heavy Good Vehicles Rs. 3500 per month
Light Good Vehicles Rs. 3150 per month
Upto A.Y. 2011-12
Heavy Good Vehicles Rs. 5000 per month
Light Good Vehicles Rs. 4500 per month
Under Section 44AE the income per vehicle is as follows:
Upto A.Y. 2010-11
Heavy Good Vehicles Rs. 3500 per month
Light Good Vehicles Rs. 3150 per month
Upto A.Y. 2011-12
Heavy Good Vehicles Rs. 5000 per month
Light Good Vehicles Rs. 4500 per month
06 October 2010
40AE is presumptive scheme of taxation. The benefit of the section is available only is ownership of goods carrier does not exceed 10.
Income is presumed at rates given by Ankit
Income is presumed at rates given by Ankit
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
