Presumptive taxation for goods carriage revised: monthly presumptive amount per vehicle or the higher actual earnings applies. Amendment to section 44AE substitutes subsection (2) to prescribe that for each goods carriage the profits and gains are the higher of a prescribed monthly presumptive amount for every month or part of a month during which the vehicle is owned in the previous year, or the amount claimed as actually earned; the rule distinguishes heavy goods vehicles from other goods carriages and applies on a per-vehicle basis.
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Provisions expressly mentioned in the judgment/order text.
Presumptive taxation for goods carriage revised: monthly presumptive amount per vehicle or the higher actual earnings applies.
Amendment to section 44AE substitutes subsection (2) to prescribe that for each goods carriage the profits and gains are the higher of a prescribed monthly presumptive amount for every month or part of a month during which the vehicle is owned in the previous year, or the amount claimed as actually earned; the rule distinguishes heavy goods vehicles from other goods carriages and applies on a per-vehicle basis.
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