Query on doctor's itr

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K Srinivas, CMA CS (Querist)
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08 August 2012 Dear Experts,

This is a query regarding filing ITR 4 for a doctor who is a salaried employee as well as a consultant.

He didn't maintain books of accounts for his profession but TDS was paid both on his salaries and professional fees.

My questions are:

1. Can he fill the BS schedule and PL schedule in ITR 4 as "No account case"?

2. If yes, can he claim depreciation and other expenses related to a car used for his profession?

3. If he can claim depreciation for car, what is the rate of depreciation?

Thanks in advance

Amol S Joglekar

Amol S Joglekar (Expert)
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08 August 2012 1. He can opt for mo account case if his professional receipts are less than the prescribed limit. 2. He can very well claim car depreciation and other expenses spent wholly for the purpose of profession. 3. It is customary to claim the depreciation at a lower rate / disallow some quantum of depreciation on car on account of personal use.

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K Srinivas, CMA CS

K Srinivas, CMA CS (Querist)
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09 August 2012 Sir, thanks for your reply.

But his professional receipts exceed the limit prescribed. He earns around Rs.3 lacs.

Please advise whether he can still file and claim depreciation as a NO ACCOUNT case.

Also kindly inform the depreciation rate for a car before applying which i will ask him to deduct some amount for personal usage.

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Amol S Joglekar

Amol S Joglekar (Expert)
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09 August 2012 Taking the professional as 36 lakh during the year.... it is a TAX AUDIT case. Get the accounts audited. It is no more a "NO ACCOUNT CASE". 15% depreciation may be charged.(If his annual receipts are 3 lakh, he can go by no account case.