Amendment of section 44AE || Amend the section 44AE in Finance Bill-2018 ||Income Tax Provision for Transporter

Proposed to amend the section 44AE in Finance Bill (Amendment of section 44AE)

Clause 16 of Finance Bill-2018, In section 44AE of the Income-tax Act, This amendment will take effect from 1st April, 2019 and will, accordingly, apply in relation to the A.Y 2019-2020 and subsequent years,(Amendment of section 44AE)—

(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,—

(b) in the Explanation, for clause (a), the following clauses shall be substituted, namely:–

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