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
Filed Under
Profits & Gains of Business & Profession
Answer ID :
76204
Rs. 42000/- per month.
Posted by
CA. SATISH CHAND GARG on
Jan 13, 2019