Special provision for computing profits and gains of business of ...

Income Tax Act Section 44AE Simplifies Profit Calculation for Goods Carriage Businesses; Presumptive Rate Must Be Used.

February 25, 2022

Case Laws Income Tax AT

Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages u/s 44AE - It is clear that sec. 44AE, a non obstante clause, represents a code in itself and, further, provides for exceptions thereto as well as a built-in mechanism to effectuate the same. The right to adopt a lower than the presumptive rate stands taken away by Finance Act, 1997 (s. 44AE(6)). - AT

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Special provision for computing profits and gains of business of ...

Income Tax Act Section 44AE Simplifies Profit Calculation for Goods Carriage Businesses; Presumptive Rate Must Be Used.

February 25, 2022

Case Laws Income Tax AT

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