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U/S 44AD income tax

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80 Points Posted on 31 May 2019
In presumtive basis income u/s 44AD when we show higher profit more than 8% then we claim depreciation or not ?
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On 31 May 2019 at 13:47 Report
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ca.umesh11@gmail.com
1465 Points Posted on 31 May 2019

You can not claim depreciation if you declare income under section 44AD. if you declare income under section 44AD then deduction under section 28 to 43C is deemed to be given. Depreciation is allowed under section 32. therefore it will be deemed that depreciation has been allowed to you

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On 31 May 2019 at 14:06
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"Do the Right Thing...!!!"
128147 Points Posted on 31 May 2019
You can provide depreciation on Your asset as per books and it's value.

but, It's not affect in profit percentage...
So, As per Your query you can provide invoice Your books of accounts.
463 Reply
On 31 May 2019 at 14:53
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GST Consultant
15986 Points Posted on 31 May 2019
Depreciation not allowed separately. 44ad deals with presumptive profit and it already includes depreciation
55 Reply
On 31 May 2019 at 15:49
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245 Points Posted on 08 June 2019
if u want to show depreciation then file itr 3 and maintain ur books of accounts
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On 08 June 2019 at 13:34


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