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DEVI LAL MOONDRA (Querist)
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02 August 2014 MY CLIENT have business income u/s 44AD.HE HAS EXEMPT INCOME ALSO MORE THAN Rs.5000.HE DECLARE MORE THAN 8% NET PROFIT U/S 44 AD.HE COMPUTE THE PROFIT AFTER CLAIMING DEPRECIATION AND OTHER ELIGIBLE EXPENDITURE.
NOW I AM FILING ITR-4.I WANT TO KNOW THAT DETAIL OF DEPRECIATION SHOULD BE MENTIONED IN DIFFERENT COLUMN(LIKE IN ADD-LESS COLUMN) AND SCHEDULE OF DEPRECIATION OF ITR-4 OR OR NOT.

Rupesh Jain

Rupesh Jain (Expert)
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02 August 2014 if you declare profit u/s 44AD and declare the [profit more than or 8% then file the form 4S. and under this all exp. will cover no exp. and depreciation will allowed separately.

DEVI LAL MOONDRA

DEVI LAL MOONDRA (Querist)
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02 August 2014 Sir,
i cannot file itr-4s because i have exempt income more than Rs.5000.
and im not claiming additional deduction of depreciation. I want to know only that i should mention detail of depreciation in respective schedule and colum of ITR-4 or not?

Rupesh Jain

Rupesh Jain (Expert)
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02 August 2014 pls file ITR -4 and detail of depreciation not required for that if you declare profit @ 8% u/s 44AD.

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