I WANT TO KNOW WHETHER THE DEPRECIATION IS ALLOWABLE UNDER SEC.44 AD . IF ANYBODY CAN HELP ME PLEASE. THANK YOU
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Depreciation under sec.44ad
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When the income is calculated u/s 44AD, the income of 8% is deemed to be after allowing depreciation on fixed assets.
Sec 44AD (3) The written down value of any asset of an eligible business shall be deemed to have been calculated as if the eligible assessee had claimed and had been actually allowed the deduction in respect of the depreciation for each of the relevant assessment years.
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