Depreciation

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

28 August 2018 Dear Sir, Depreciation is more in an professional engineer books.he getting Net profit more than 50% (for 44ADA) but after Depreciation getting 38%. shall we file accordingly without shown 50% as per 44ADA. (NO Audit required because of Gross Receipts 22Lakhs only)

Expert : Anonymous

Expert : Anonymous (Expert)

28 August 2018 Depreciation not available for presumptive scheme. Show 50 percentage profit. If show less than the limit u/s 44ada then Tax Audit is applicable. By RAJA P M.