Section 44ae
This query is : Resolved
04 July 2016
The transporter is owner of 5 trucks.But he had income generated from 2 trucks in last year.So whether for 44AE -5 TRUCKS TO BE CONSIDERED OR 2 TRUCKS TO BE CONSIDERED FOR PRESUMPTIVE INCOME?
11 July 2016
Income will be on the basis of 5 trucks because income is to be computed on the basis of trucks owned.
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