Hello.
How to file an Income Tax return underSec 44AE? We have to take Gross Weight or unladen Weight?
Thank You.
prasad Nilugal
( GST Practitioner & Accounts )
(14606 Points)
Replied 12 June 2019
Provisions of section 44AE for Transporters
A Taxpayer who owns not more than 10 Goods Carriage and engaged in the business of plying , hiring or leasing of Goods Carriage , his income would be deemed as follows :-
1) Light Goods vehicles ( Less than 12 MT - Gross weight vehicle ) - Rs 7500/- per vehicle per month .
2) heavy Goods vehicles ( More than 12 MT - Gross weight vehicle) - Rs 1000/- per ton per vehicle per month . ( Finance act 2018 Amendment , Applicable form F.Y 2018-19 on wards )
Deepika Maheshwari
(student)
(255 Points)
Replied 12 June 2019
It has to be taken as Gross weight of the goods carrier.
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