Question ID : 36931

Presumptive tax u/s 44AE

Dear sir Under section 44AE for Assessment year 2019-20 it is mentioned that in case of heavy goods vehicle, net income of Rs. 1000/- per ton per month on gross vehicle weight or unladen weight to be offered for Income tax purpose. If a person have a Heavy goods vehicle gross weight of which is 42000 kg. and unladen weight is 12000 kg. Please confirm whether income shall be Rs. 42000/- p.m. or 12000/- per month. Thanks

posted by Rajesh Kumar Mandwariya on Jan 10 2019 12:00AM