Ram, engaged in the business of plying, hiring or leasing of goods carriages as on 1st April,2022 was having 5 trucks of gross vehicles weight of each truck of less than 12,000 kgs. One truck out of these 5 trucks was sold by him on 23rd July 2022 and after sale of one truck; 2 more trucks (1 less than 12,000 Kgs and 1 of 16,900 Kgs of gross vehicles weight) were purchased on 5th Sept 2022 and plied. He wants to declare the income of trucks as per provision of Section 44AE of the Act. He shall be required to declare an income of Rs.________in the return for A.Y. 2023-24 from plying of these vehicles during the previous year ended on 31.03.2023.
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