Depriciaion when flat rate of profit scheme is applicable
This query is : Resolved
28 January 2009
Can we deduct depriciation after taking income in flat rate , in 44AD 8 % scheme...
Ref : as per the CBDT circular no : 29d (xix )-14 dated 31-08-1965
please guide me about this circular ,
whether flat rate of profit is applicable beyond the limit of 40 lacs..
when the contractor has not kept the books of account..
please guide me about this matter.....
Ref : as per the CBDT circular no : 29d (xix )-14 dated 31-08-1965
please guide me about this circular ,
whether flat rate of profit is applicable beyond the limit of 40 lacs..
when the contractor has not kept the books of account..
please guide me about this matter.....
29 January 2009
No, depreciation is deemed to have been claimed.(Refer proviso to sub section 1)
The section as such the flat rate does not apply in case the receipt is 40 lacs or more(Refer sub section 2)
The section as such the flat rate does not apply in case the receipt is 40 lacs or more(Refer sub section 2)
29 January 2009
Dear sir ,
please guide me about this circular
Ref : as per the CBDT circular no : 29d (xix )-14 dated 31-08-1965
please guide me about this circular
Ref : as per the CBDT circular no : 29d (xix )-14 dated 31-08-1965
04 March 2009
if u opt for section 44AD than all the deductions U/S 30 to 38 including depreciation, are deemed to have been allowed and no further deductions are allowed. except in case of firm normal deduction in respect of salary and interest to partners U/S 40(b) shall be allowed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
