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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

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.