Section 44AE - Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages

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..... and is engaged in the business of plying, hiring or leasing of goods carriages, the income for such person would be deemed as: Light Goods Vehicle (less than 12,000 Kgs - gross weight vehicle) : ₹ 7500 per vehicle per month Heavy Goods Vehicle (more than 12,000 Kgs - gross weight vehicle) : ₹ 1000 per ton per vehicle per month. KEY POINT: Gross vehicle weight total weight of the vehicl .....

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..... on installments and for which the whole or part of the amount is still due, shall be deemed to be the owner of such goods carriage. Any deduction u/s 30 to 38 shall not be allowed as it is deemed to have given full effect. The assessee have to maintain books of account and get his accounts audited if he declares his income lower than the specified amount. The WDV of any asset used for the purpose .....

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