Itr 3


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 June 2017 In "No Accounts" case should depreciation be included in "Expenses" -entry 53 c, or not? The depreciation schedules are being filled properly. The assessee is opting for 44AD and shows 8% profit under item 35i in schedule BP

19 June 2017 You can include depreciation in expenses

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 June 2017 Can include or should include? Also fill in Depreciation schedules if included in expenses?
If expenses shown do not include depreciation and depreciation schedules are filled, and 8% profit shown under sec 44AD profit in entry 35i of BP schedule, will it result in any wrong calculation or fault/ defect in ITR?

19 June 2017 No need to fill depreciation schedule in ITR as depreciation is deemed to have been allowed under section 44AD. Also in P&L section of ITR you need not give depreciation figure as only gross receipts, gross profit, expenses and net profit is required to be filled up.

19 June 2017 No need to fill dep schedule. If same is filled you may received notice u/s 139(9)

19 June 2017 do not fill the depreciation schedule if you are going by presumptive taxation


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
12 November 2026
Auditor

Oz Taxation

Vijayawada

Graduate (Any)

View Details
Company
ARTICLESHIP 07 November 2026
Article Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 14 November 2026
Articleship Assistant

B Thejas and Associates

Bengaluru

CA Foundation

View Details
Company
02 November 2026
Audit Executive

SRJP & Co LLP

Kochi

CA Inter

View Details
Company
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details