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Presumptive income under section 44AE in case of goods carriage

Budget - Dated:- 5-2-2018 - Section 44AE, inter alia provides that, the profits and gains shall be deemed to be an amount equal to seven thousand five hundred rupees per month or part of a month for each goods carriage or the amount claimed to be act .....

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ssee should not have owned more than 10 goods carriages at any time during the previous year. Accordingly, the transporters who owns (less than 10) large capacity/ size goods carriages are also availing the benefit of section 44AE. It is necessary to .....

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ity goods carriages, the tax consequences are similar which is against the principle of tax equity. In view of the above, it is proposed to amend the section 44AE of the Act to provide that, in the case of heavy goods vehicle (more than 12MT gross ve .....

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