Dep in case of cash method
This query is : Resolved
30 April 2008
my client has purchased a plant of Rs 100000/- in f y 2007-08.The balance amount of rs 50000/- paid in 2008-09.Whether Dep will be provided on Rs 100000/- or on Rs 50000/-.Pls reply
30 April 2008
hie sheetal patni
your client purchase a plant of rs 100000 & payment is made only 50000/- you know the debtors & creditors in A/c,s
so you will get dep on rs 100000/- & 50000 is outstanding creditors
your client purchase a plant of rs 100000 & payment is made only 50000/- you know the debtors & creditors in A/c,s
so you will get dep on rs 100000/- & 50000 is outstanding creditors
30 April 2008
Better to claim full dep for FY 07-08. It is not clear from the query, whether the full amt is 1 or 1.5 L.
More over, depreciation is relate to usage and not payment. Depreciation is a non cash expenditure.
More over, depreciation is relate to usage and not payment. Depreciation is a non cash expenditure.
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
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- Offsetting interest income against derivative trading losses
- Gst Sales of FY 2023-24
- Legal heir raised refund , but refund issued to the closed account of deceased.
- My Last working day in current org is in novemebr 2024 but they are asking me to submit IT proof
- Indexation benefit applicability
- SEC 54 OF IT ACT
- Passed group 2 exams under wrong gender
- REQUIREMENT OF 15CB
- QUERY FOR RCM ON RENT
- APPEAL-CIT
- Payable outstanding for years disallowance
- Whether still royalty
- Issue of gst e invoice
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
