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of <h1>Amendment to Section 44AE: New Profit Calculation for Goods Carriages Effective April 1, 2011.</h1> Section 44AE of the Income-tax Act is amended to modify the calculation of profits and gains from goods carriages. For heavy goods vehicles, the profit is set at either five thousand rupees per month or the actual earnings, whichever is higher. For other goods vehicles, the profit is set at four thousand five hundred rupees per month or the actual earnings, whichever is higher. This amendment takes effect from April 1, 2011, and applies to the period during which the vehicle is owned by the assessee in the previous year.
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