Role of Depreciation Under 44ADA & 44AD

If Depreciation is not allowed under 44AD & 44ADA can we take amount of depreciation on Balance sheet or P& L A/c ?

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Quick Summary
Even though depreciation isn't directly allowed as a deduction under presumptive taxation schemes like 44AD and 44ADA, it's still crucial for accurate financial reporting. You should continue to calculate and record depreciation on your assets as usual. This ensures the true and fair value of your assets is reflected on the balance sheet and that expenses are properly accounted for in the profit and loss account.

Yes. You are supposed to depreciate the assets as usual, and adjust the amount to P&L acc & BS.

Thank You Sir, Have a Good day

For Assessing the True and Fair Value of Asset Depreciation is necessary as per Income Tax Act 1961 So that Proper amount of Depreciation will be Booked or charged to Profit and loss account and same True value of asset must be recorded on the Asset side of Balance Sheet.

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