Mr. X is the owner of 4 trollas (capacity 16,000 kg each) and 5 trucks (capacity 8,000 kg each) on…

Under Section 44AE of the Income-tax Act, 1961 as applicable for Assessment Year 2013-14, presumptive income was Rs. 5,000 per month (or part of a month) per heavy goods vehicle and Rs. 4,500 per month per other goods carriage: 2 heavy trollas held for 12 months give $2 \times 12 \times 5{,}000 = \text{Rs. } 1{,}20{,}000$; 2 heavy trollas held for 2 months (April and May 2012) give $2 \times 2 \times 5{,}000 = \text{Rs. } 20{,}000$; and 5 other trucks held for 12 months give $5 \times 12 \times 4{,}500 = \text{Rs. } 2{,}70{,}000$. Total presumptive profit is $1{,}20{,}000 + 20{,}000 + 2{,}70{,}000 = \text{Rs. } 4{,}10{,}000$, as operating expenses and depreciation are deemed already allowed.