Amendment of section 44AE

In force Act 13 of 2018 As on 05 Oct 2026

Act 13 of 2018 Ministry Finance Cited by 2 provisions

Section 16 of the Finance Act, 2018 deals with amendment of section 44AE. Amendment of section 44AE. 16. In section 44AE of the Income-tax Act, with effect from the 1st day of April, 2019,— (a) | for sub-section (2), the following sub-section shall be substituted, namely:— "(2) For the purposes of sub-section (1), the profits and gains from each goods carriage,— (i) | bei

Amendment of section 44AE.
16. In section 44AE of the Income-tax Act, with effect from the 1st day of April, 2019,—
(a) for sub-section (2), the following sub-section shall be substituted, namely:—
"(2) For the purposes of sub-section (1), the profits and gains from each goods carriage,—
(i) being a heavy goods vehicle, shall be an amount equal to one thousand rupees per ton of gross vehicle weight or unladen weight, as the case may be, for every month or part of a month during which the heavy goods vehicle is owned by the assessee in the previous year or an amount claimed to have been actually earned from such vehicle, whichever is higher;
(ii) other than heavy goods vehicle, shall be an amount equal to seven thousand five hundred rupees for every month or part of a month during which the goods carriage is owned by the assessee in the previous year or an amount claimed to have been actually earned from such goods carriage, whichever is higher.";
(b) in the Explanation, for clause (a), the following clauses shall be substituted, namely:—
'(a) the expressions "goods carriage", "gross vehicle weight" and "unladen weight" shall have the respective meanings assigned to them in section 2 of the Motor Vehicles Act, 1988 (59 of 1988);
(aa) the expression "heavy goods vehicle" means any goods carriage, the gross vehicle weight of which exceeds 12000 kilograms;'.
Section 16, The Finance Act, 2018 (Act 13 of 2018).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

Income-tax Act s. 44AE Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages

Referred to by 2

Questions about Section 16

What does Section 16 of the Finance Act deal with?

Section 16 of the Finance Act is headed "Amendment of section 44AE". Amendment of section 44AE. 16. In section 44AE of the Income-tax Act, with effect from the 1st day of April, 2019,— (a) | for sub-section (2), the following sub-section shall be substituted, namely:— "(2) For the purposes of sub-section (1), the profits and gains from each goods carriage,— (i) | bei

How do I find court cases under Section 16 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2018 16, section 16 Finance Act 2018, section 16 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 16 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 44AE (Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.

When was the Finance Act enacted?

Finance Act was enacted in 2018 as Act 13 of 2018. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

First Schedule. INCOME-TAX8472 words
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206. Amendment of Act 54 of 20001580 words
Second Schedule. Second Schedule1062 words
33. Insertion of new section 112A756 words
63. Amendment of section 28707 words

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(a)		for sub-section (2), the following sub-section shall be substituted, namely:—
		"(2) For the purposes of sub-section (1), the profits and gains from each goods carriage,—

(i)		being a heavy goods vehicle, shall be an amount equal to one thousand rupees per ton of gross vehicle weight or unladen weight, as the case may be, for every month or part of a month during which the heavy goods vehicle is owned by the assessee in the previous year or an amount claimed to have been actually earned from such vehicle, whichever is higher;
(ii)		other than heavy goods vehicle, shall be an amount equal to seven thousand five hundred rupees for every month or part of a month during which the goods carriage is owned by the assessee in the previous year or an amount claimed to have been actually earned from such goods carriage, whichever is higher.";

'(a)		the expressions "goods carriage", "gross vehicle weight" and "unladen weight" shall have the respective meanings assigned to them in section 2 of the Motor Vehicles Act, 1988 (59 of 1988);
(aa)		the expression "heavy goods vehicle" means any goods carriage, the gross vehicle weight of which exceeds 12000 kilograms;'.