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Capital goods purchase in cash above Rs.20000/-

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(Querist)
04 November 2010 In partnership firm, we have purchase computer of Rs.64000/- in cash.
Can we book the payment of Rs.64000/- in same day? It is allowable?
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RANGA SRINIVAS

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RANGA SRINIVAS (Expert)
04 November 2010 Dear raviraj

Since payment is made by cash, the depreciation charge will be disallowed by virtue of Sec 40(A)(3)

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