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How to file income tax return under sec 44ae?

GSTGSTJAI (CA) (1 Points)

12 June 2019

Hello.

How to file an Income Tax return underSec 44AE? We have to take Gross Weight or unladen Weight?

Thank You.

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prasad Nilugal ( GST Practitioner & Accounts ) (14868 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 )