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PLANNING
Section 44AE and Section
43CA
Section 44AE
Condition 1
The taxpayer may be an individual, HUF, AOP, BOI, firm,
company, co-operative society, or any other person. He or
it may be a resident or a non-resident.
Condition 2
Taxpayer is engaged in the business of plying, hiring or
leasing goods carriage.
Condition 3
Taxpayer owns not more than 10goods carriages
during PY. For this purpose, a taxpayer, who is in
possession of goods carriage, whether taken on hire
purchase or on installments and for which the whole
part of the amount is payable is still due, shall be
deemed to be the lower of such goods carriage.
Goods Carriage
Rs4500 for every month during which the goods
carriage is owned by the taxpayer
and
unabsorbed
depreciation,
are
For Example,
Less:
Section 43CA
Section 43CA(1)
Section 43CA(2)
Section 43CA(3)
Section 43CA(4)
Permissible methods of
valuation of closing stock
or
permits
any
particular
method
of
valuation of stock.
Cont
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