I am into transport business of plying trucks for transporting cars to dealers like maruti, the trucks are not on my own name as they are financed. Can i take the benefit of section 44AE as the trucks are not in my name ? i have less than 10 trucks.
04 January 2014
if you are engaged in the business of Plying or hiring and whether the truck are hired or on instalment under finance you will be treated as owner for the purpose of 44AE
CAclubindia
