Question ID :
16700
plying, hiring and leasing goods carriage vs transportation business
can anyone explain me meaning and difference between plying,hiring and leasing goods carriage and transportation business??
Posted by
ca.tarannum
on
Jul 05, 2013
Filed Under
DIRECT TAXES
Transportation business means plying,hiring and leasing goods carriage.. pawan.kumar.jain@icai
Posted by
CA. Pawan Kumar Jain on
Jul 06, 2013
Answer ID :
45526
Transportation business covers all these three. if tax assessee is engaged in either of plying, hiring or leasing GOODS carriage he will be elgible for opt section 44AE.
Posted by
CA. HUKKERI SUNIL CHANDRAKANT on
Jul 06, 2013
Answer ID :
45528
NO DIFFERENCE. PLYING,HIRING AND LEASING GOODS CARRIAGE MEANS TRANSPORTATION BUSINESS.
Posted by
CA. JAIN JAWAHAR LAL on
Jul 06, 2013
Answer ID :
45532
In plying hiring leasing assessee may run the vehicles on hire or lease.He may conduct business by himself or through lessee.In transportation no such hire or lease.
Posted by
CA.NILA.R.K. on
Jul 06, 2013
Answer ID :
45545
transportation business includes plying of vehicles on a regular basis such as public carriersroute buses. in hiring, the vehicle is used by the hirer only like hiring a tourist van for a picnic outing etc. leasing refers to a case where only the vehicle is let out for a hierent and running expenses incl. driver salary is paid by the hirer
Posted by
CA. VENKITARAMAN K V on
Jul 07, 2013
Answer ID :
45560
Broadly speaking transportation business would include all kinds of transports by air,sea,rail and road including multimodal transport etc whereas the plying etc is restricted to goods carriage only.
siva208@yahoo
Posted by
SIVADAS CHETTOOR on
Jul 07, 2013
Answer ID :
45595
NO DIFFERENCE PLYING,HIRING LEASING GOODS CARRIAGETRANSPORTATION BUSINESS
Posted by
CA. JAIN JAWAHAR LAL on
Jul 08, 2013
Answer ID :
45603
Carrying passangers in addition to goods are also covered under transportation.
From tax planning view and claim of depriciation by leassee, the meaning can be interpretated.
Posted by
CA. GHOSHAL VISHWAJEET on
Jul 08, 2013