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Depreciation under sec.44ad

kannansugumaran (tax consultant) (44 Points)

05 July 2013

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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10 Replies

Madhu Hegde (article assist) (62 Points)
Replied 05 July 2013

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...

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CA CS Roshan Begrajka (Chartered Accountants) (267 Points)
Replied 05 July 2013

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

chandrika (CA Final student) (107 Points)
Replied 05 July 2013

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.

CA.Saurabh Sharma (Qualified CA) (42 Points)
Replied 05 July 2013

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.

sanjay singhal (CA) (987 Points)
Replied 06 July 2013

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.