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of <h1>Section 44AE: Presumptive income rules for small goods carriage owners-per vehicle rates, deductions deemed allowed, audit exceptions</h1> For an assessee owning no more than ten goods carriages at any time in the previous year and engaged in plying, hiring or leasing them, income from that business is computed on a presumptive basis: profits per vehicle are deemed at specified rates-for heavy goods vehicles a sum per ton per month (or actual higher) and for other goods carriages a fixed monthly amount of Rs.7,500 (or actual higher). Deductions under sections 30-38 are treated as already given; written down value is calculated as if depreciation were allowed; provisions of sections 44AA/44AB do not apply to this business; firms may deduct partners' salary/interest subject to section 40 limits; lower profits may be claimed if books are maintained and accounts audited.
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