Section 44AE in Case of Proprietorship and Partnership
Last updated at April 16, 2024 by Teachoo
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Section 44AE in Case of Proprietorship and Partnership You are here
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ITR Forms of Partnership and Partners
Courses
Free Income Tax Certification Course
- Chapter 1 Introduction
- Chapter 2 Different Heads of Income
- Chapter 3 Different ITR Forms & Due Dates
- Chapter 4 Income Tax Rates
- Chapter 5 Income from Salary & Deductions
- Chapter 6 Business Income-Proprietorship
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Chapter 7 Business Income-Patnership
- Chapter 8 Income from House Property
- Chapter 9 Income from Capital Gain
- Chapter 10 Employee on Contract
Transcript
Section 44AE Example person has 2 Trucks of 20000 Kg Proprietorship Profit per Truck per mt 1000 No of Mt 20 profit per truck pm 20000 No of Months 12 Annual Profit 240000 no of trucks 2 Total profit 480000 tax 11500 Partnership profit per tuck per mt 1000 No of mt 20 Profit per truck 20000 No of months 12 Tax as per Slab Rate Tax becomes 0 because of Rebate Flat Tax @ 30% + Cess No Rebate
