TMI BlogTHE FOURTEENTH SCHEDULE - DETERMINATION OF INCOME ON A PRESUMPTIVE BASISX X X X Extracts X X X X X X X X Extracts X X X X ..... The aggregate amount of income from all the heavy goods vehicles owned by the assessee, calculated at the rate of five thousand rupees from each heavy goods vehicle for every month or part of a month during which the vehicle is owned by the assessee in the financial year. The number of heavy goods vehicles owned by the assessee in the financial year should be ten or less. 2. Business of plying, hiring or leasing of light goods vehicle. The aggregate amount of income from all the light goods vehicles owned by the assessee, calculated at the rate of four thousand five hundred rupees from each light goods vehicle for every month or part of a month during which the vehicle is owned by the assessee in the financial year. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... extraction or production of, mineral oil. The amount shall be a sum equal to ten per cent. of aggregate of,- (i) the amount paid or payable (whether in or out of India), directly or indirectly, to the assessee or to any person on his behalf on account of the provisions of services and facilities in connection with the prospecting for, or extraction or production of, mineral oils in India; and (ii) the amount received or deemed to be received in India, directly or indirectly, by or on behalf of the assessee on account of the provisions of services and facilities in connection with the prospecting for, or extraction or production of, mineral oils outside India; The assessee is a non-resident. 7. Business of supplying ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... if any, actually earned by the assessee from the business over the amount specified in that sub-section. 3. The income computed under Rule 1 shall be presumed to have been computed after giving full effect to every loss, allowance or deduction under this Code. 4. The written down value of any business asset used for the purposes of earning income from the business specified in column 2 of Table in rule 1 shall be computed as if the person has claimed and has been actually allowed the deduction in respect of depreciation under section 36, initial depreciation under section 37 and terminal allowance under section 38. 5. The amount of common costs (including depreciation) attributable to the business specified in column 2 of Table in ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
