1. Courses
  2. Free Income Tax Certification Course


Section 44AE Scheme for Goods Transport Company If number of trucks upto 10 No Need to Maintain books of Accounts 7500 per month is Profit for Small Truck (Upto 12000 KG) 1000 per month Per mt is Profit for Large Truck Example It is a Large Truck (1000 pm per mt is Profit 1000 kg=1 mt,so 30000 Kg=30 mt Truck No. Mt Profit per truck No. of month used Truck 1 N/A 7500 12 90000 Profit 450000 Tax 10000 Rebate 10000 Net Tax 0 Cess 4% 0 Total Tax Incl Cess 0 Note -For Part of Month Full Month Counted Example A Transport company has 4 trucks He has 3 trucks on 1 April He purchased 1 trucks on 25 July Assume Weight of All trucks is 40000 kg Truck No Mt Profit per truck No. of month used Annual profit Truck 1 40 1000 12 480000 480000 Profit 1800000 Tax 352500 Rebate 0 Net Tax 352500 Cess 4% 14100 Total Tax Incl Cess 366600

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.