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Section 35AD

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 December 2010 If an assessee has opted to claim deduction under Section 35AD,can he claim deduction for depreciation?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
01 December 2010 As per explanation 13 to section 43(1), cost of assets on which section 35AD benefit is availed is "nil". Hence deduction under section 32(1) will not be allowed.
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taxindiaconnect

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taxindiaconnect (Expert)
01 December 2010 Agree with BC Sir.
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