Presumptive income for goods vehicles sets per ton and fixed monthly presumptive rates, with actual receipts allowable instead.

Substitution of sub section (2) of section 44AE establishes that deemed profits and gains for heavy goods vehicles are computed per ton of gross vehicle weight or unladen weight per month, or actual earnings if higher; for other goods carriages a fixed monthly presumptive amount applies, also subject to the actual receipts alternative. Definitions for goods carriage, gross vehicle weight, unladen weight and heavy goods vehicle are added.

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