I WANT TO KNOW WHETHER DEPRECIATION IS ALLOWABLE UNDER SEC 44AD. PLEASE HELP ME REGARD THIS ISSUE. THANK YOU
S. KANNAN
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Depreciation under sec.44ad
Replies (10)
Under Sec-44AD there is no question of depreciation and all,that profit whatever u showed is treated as aftter all allowable expenses ad expenditure...
there is no question arise of depreciation u/s 44AD bcz this section is deemed to be after all deduction and all expenses under the head busineess profession
Any deduction allowed under provisions of Section 30 to 38 shall, for the purpose of income computed under the sec 44ad be deemed to have been already given full effect and no further deduction shall be allowed under this section
so depreciation is not allowable exp.
U/s 44ad no deductions are allowed u/s 28 to 42
And depreciation comes u/s32
therefore no ques arises related to allow depreciation as exp.
I understand that w d.v of assets shall be carried after reducing depreciation as applicable in normal course. Us 44ad it is assumed that dep has been already claimed.
u/s 44AD, depriciation is deemed to have been allowed........
Yes there is a way to claim deduction of depn even if sec. 44AD is applied. Tax.planning is required.
no can not claim depreciation....as sec 44AD overruled section 28 to 43b (Depreciation is section 32)
Section 44AD starts with notwithstanding anything contrary contained in section 28 to 43C. So, section 32 is not applicable to section 44AD.
BUT INTEREST ON PARTNERS CAPITAL AND REMUNERATION TO PARTNERS ARE ALLOWED
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