Query about s.44ad computation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 January 2015
HELLO SIR,
I HAVE FOLLOWING DETAILS WITH ME
TOURN OVER 1250000
PROFIT AS PER P&L 210000
DEPRECIATION IN P&L 90000
AS PER 44AD PROFIT(8%) 100000
AS PER 44AD 8% OR SUCH HIGHER PROFIT SHALL BE TAXABLE, WHILE COMPARING WHICH PROFIT SHOULD I TAKE, IS IT 210000(16.8%) OR 210000+90000(i.e., dep added back) ?
kindly clarify my doubt sir
I HAVE FOLLOWING DETAILS WITH ME
TOURN OVER 1250000
PROFIT AS PER P&L 210000
DEPRECIATION IN P&L 90000
AS PER 44AD PROFIT(8%) 100000
AS PER 44AD 8% OR SUCH HIGHER PROFIT SHALL BE TAXABLE, WHILE COMPARING WHICH PROFIT SHOULD I TAKE, IS IT 210000(16.8%) OR 210000+90000(i.e., dep added back) ?
kindly clarify my doubt sir
08 January 2015
As per section 44AD, all expenses including depreciation are deemed to have been claimed when profit is declared @ 8%.
There is no need to add back depreciation in my opinion since otherwise also you are declaring more than 8%.
There is no need to add back depreciation in my opinion since otherwise also you are declaring more than 8%.
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Akash Barman
(Expert)
08 January 2015
ITS HAS TO BE 210000 AFTER DEDUCTING DEP
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