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of <h1>Finance Bill 2009 amends Income-tax Act, section 44AE, increasing deemed profits for goods carriages from April 2011.</h1> Clause 21 of the Finance (No. 2) Bill, 2009 amends section 44AE of the Income-tax Act, effective April 1, 2011. It revises the calculation of profits and gains for assessees owning up to ten goods carriages in the business of plying, hiring, or leasing. For heavy goods vehicles, the deemed profit is increased from 3,500 to 5,000 rupees per month, or the actual amount earned, whichever is higher. For other vehicles, it rises from 3,150 to 4,500 rupees per month, or the actual earnings, whichever is higher. This amendment applies to the assessment year 2011-2012 onwards.
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