Mr. Sarthak is in the business of operating goods vehicles. As on 1st April, 2024, he had the following vehicles: Vehicle Gross Vehicle Weight (in…

Since Mr. Sarthak does not own more than 10 vehicles at any time during the previous year 2024-25, he is eligible to opt for presumptive taxation scheme under section 44AE. As per section 44AE,1,000 per ton of gross vehicle weight or unladen weight, as the case may be, per month or part of the month for each heavy goods vehicle and - 7,500 per month or part of month for each goods carriage other than heavy goods vehicle, owned by him would be deemed as his profits and gains from such goods carriage. Heavy goods vehicle means any goods carriage, the gross vehicle weight of which exceeds 12,000 kg. Calculation of presumptive income as per section 44AE Type of carriage No. of months the vehicle is owned by Mr. Prakash Rate per ton per month Ton Amount ₹ (1) (2) (3) (4) (5) [(2) x (3) x (4)] Heavy goods vehicle Vehicle B (15,000 kgs) held throughout the year 12 1,000 15 (15,000/1,000) 1,80,000 Vehicle E (14,000 kgs) purchased on 15.5.2024 11 1,000 14 (14,000/1,000) 1,54,000 Goods vehicles other than heavy goods vehicle Vehicle A held throughout the year 12 7,500 - 90,000 Vehicle C held throughout the year 12 7,500 - 90,000 Vehicle D purchased on 20.4.2024 12 7,500 - 90,000 Total 6,04,000 The "put to use” date of the vehicle is not relevant for the purpose of computation of presumptive income under section 44AE, since the presumptive income has to be calculated per month or part of the month for which the vehicle is owned by Mr. Sarthak