Answer

1. F

   Facts

   Sec 44AE applies to those owning up to 10 goods carriages at any time in the year. Income for a heavy goods vehicle is ₹1,000 per ton of gross vehicle weight per month, and ₹7,500 per month for other goods vehicles, or higher actual income.

2. P

   Provisions and law

   • Sec 44AE (now Sec 58)Presumptive income for goods carriages, up to 10 vehicles
3. A

   Analysis

   For 3 heavy trucks of 25 tons each owned all year, income is 3 x 25 x ₹1,000 x 12, which is ₹9,00,000. For a light goods vehicle owned for 8 months, it is ₹7,500 x 8, which is ₹60,000. Part of a month counts as a full month. Keep the registration certificates showing gross vehicle weight.

4. C

   Conclusion

   1. 1List each vehicle, its gross vehicle weight and months owned
   2. 2Apply ₹1,000 per ton per month or ₹7,500 per month
   3. 3Total the income and compare with actual
   4. 4Enter vehicle details in Schedule BP

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