Question ID :
40874
Section 44AE v/s Section 44AD
Can the transporter who doesn't own any Vehicle (trucks) but hires the vehicles from somebody for his transport business claim the benefit of section 44AE ? If not then can he avail the benefit under 44AD ??
Thanks in Advance..!!
Posted by
SHRUTI KUTE
on
Oct 19, 2020
Filed Under
DIRECT TAXES
Answer ID :
80780
Cannot opt 44AE,but can choose 44AD My inference is , 44AE refers to the business of hiring through "owned vehicles". As the taxpayer is carrying hiring business through hired vehicles such business would not fall under 44AE but could come under the purview of 44AD.
Posted by
B.CHACKRAPANI WARRIER on
Oct 19, 2020
Answer ID :
80781
Section 44AE is applicable to person who own less than 10 vehicles. It is not applicable to person who does not own any vehicle, but taken vehicles on hire. However, such person can avail benefit of section 44AD.
Posted by
CA. chunauti dholakia on
Oct 22, 2020