Itr 4 for ay 2018-19 and 2019-20 column e11 to e25

Dear Sir / Madam.,

I will prepare ITR 4 AY 2018-19 for all the rows of E11 to E25 including E18. The E18 is Rs. 5,00,000 (Plant & Machinery) as on 31/03/2018...

The Same way I prepare AY 2019-20 and the Plant & Machinery Value Rs. 425,000. Bcoz, I apply depreciation @ 15% Rs. 75000...

Question like :

Can I show the Fixed Asset Value after Depreciation in AY 2019-20? 

Replies (3)

Yes.......

Wherever depreciation is applicable, you have to .......

Thank You Sir...

But., U/s 44AD depreciation is not available. In case department will ask the value of Depreciation then What is the solution...?

The section do not allow to deduct depreciation from the presumed profit of 6 or 8 percentage.

At the same time section also states that the value of the assets would get depreciated as per normal course.....

Read: sub-section 44AD(3) as ...  "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."

It means you have to depreciate asset value, but declare minimum profit of 6/8% of turnover.

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