Section 44AE – Presumptive taxation for businesses of plying, leasing or hiring trucks

To give relief to small assesses, government has come out with a simple scheme known as presumptive taxation scheme. Under Presumptive taxation scheme, persons engaged in business of plying, leasing or hiring of trucks are required follow the conditions as laid down in section 44AE of Income Tax Act 1961 to calculate their tax liability. To … Read More » "Section 44AE – Presumptive taxation for businesses of plying, leasing or hiring trucks"